M7-6 Calculating Cost of Goods Available for Sale, Ending Inventory, The following are the transactions for the month of July. Unit Units Unit Cost Selling Price July 1 Beginning Inventory 58 $10 July 13 Purchase 290 11 July 25 Sold (100) $14 July 31 Ending Inventory 248 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.) FIFo (a) FIFO (Periodic) Cost per Total Unit Units 0 Beginning Inventory Purchases 0 July 13 Goods Available for Sale Cost of Goods Sold 0 Total Cost of Goods Sold Ending Inventory FIFO (Periodic) Sales Cost of Goods Sold Gross Profit