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In its first month of operation, Literacy for the illiterate opened in new bookstore and bought merchandise in the following order: 300 units at $5

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In its first month of operation, Literacy for the illiterate opened in new bookstore and bought merchandise in the following order: 300 units at $5 on January 1, 450 units at$8 on January 8, and 850 units at $9 on January 29. Assume 1,000 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the (a) FIFO, (b) LIFO and (c) weighted average cost how assumption. Assume a periodic inventory system and sold 600 units, between January 9 and January 28

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