M7.6 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sol and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3 The following are the transactions for the month of July Unit July 1 Beginning Inventory 47 $10 July 13 Purchase July 25 Sod Units Unit Cost Selling P 235 12 (100) $16 July 31 Ending Inventory 182 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) (a)FIFO IFO (Periodic) Cost per Total Units Unit goods available for sale and ending inventory, then sales, cost of goods sold, and gross Calculate cost of profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit to 2 decimal places and your final answers to nearest amount.) (a)FIFO FIFO (Periodic) Cost perTotal Unit Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold 0 Total Cost of Goods Sold Ending Inventory Sales Cost of Goods Sold Gross Profit (b)LIFO LIFO (Periodic) Cost per Total Unit Unit Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Periodic) Sales Cost of Goods Sold Gross Profit (c)Weighted Average Cost Weighted Average (Periodic) Cost per Total Units Unit Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory Weighted Average (Periodic) Sales Cost of Goods Sold Gross Profit