calculate cost of goods available for sale in ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume periodic inventory system is used. (Round "Cost per unit" to 2 decimal places and your final answers to nearest whole dollar amount.)

Required information The following information applies to the questions displayed below) The following are the transactions for the month of July, Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 60 $10 300 12 (100) 260 $16 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) ETEO (Periodio) Units Cost per Total Unit 60 $ 10.00 $ 600 Beginning Inventory Purchase July 13 300 $12.00 3.600 Required information FIFO (Periodic) Units Total Cost per Unit $ 10.00 60 $ 600 300 $ 12.00 3,600 4,200 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from July 13 Purchase Total Cost of Goods Sold Ending Inventory $ 10.00 cos COS $ 12.00 1,536 FIFO (Periodic) Sales Cost of Goods Sold Gross Profit