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In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: ( 1 ) 3

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 $5 on January 1,(2)500 units at $9 on January 8, and (3)910 units at $10 on January 29. Assume 1,110 units are on hand at the end of the month.
M7-20(Algo)(Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under Perpetual FIFO [LO 7-S1]
Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the FIFO. Assume perpetual inventory system and sold 600 units between January 9 and January 28.(Round your intermediate calculations to 2 decimal places.)
\table[[,FIFO],[Goods Available for Sale,],[Cost of Goods Sold,],[Ending Inventory,]]
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