Calculate cowt of goods availaible for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. (Round "cost per unit" to 2 decimal places and your final answers to nearest whole dollar amount.)

! 13 Required information {The following information applies to the questions displayed below) The following are the transactions for the month of July. Units Unit Cost unit selling Price July 1 Beginning Inventory 00 $10 July 13 Purchase 300 32 July 25 Sold (100) $16 July 31 Ending Inventory Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) Answer is complete but not entirely correct. Required information LIFO (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 July 13 Purchase Units from Beginning Inventory Total Cost of Goods Sold Ending Inventory 40 X $ 12.00 60 $ 10.00 1,080 $ 3,120 LIFO. (Periodic) Sales Cost of Goods Sold Gross Profit $ 1,600 1,080 X $ 520 X