E7-4 Calculating Cost of Ending Inventory and Cost of Goods Sold under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] Spotter Corporation reported the following for June in its periodic inventory records. Date June 1 11 24 30 Description Beginning Purchase Purchase Ending Units 12 38 20 24 Unit Cost $ 8 9 11 Total Cost $ 96 342 220 Required: 1. Calculate the cost of ending inventory and the cost of goods sold under the (a) FIFO. (b) LIFO, and (c) weighted average cost methods. (Do not round your intermediate calculations. Round "Weighted Average Cost" to 2 decimal places.) Cost of Ending Cost of Goods Inventory Sold FIFO LIFO Weighted Average Cost Required information M7-11 to 13 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] [The following information applies to the questions displayed below.) In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $7 on January 1, (2) 450 units at $8 on January 8, and (3) 750 units at $9 on January 29. M7-13 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic Weighted Average Cost (LO 7-3) Assuming 900 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under Weighted Average Cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.) Weighted Average Cost Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold