M7-7 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO LO 7-3 Given the following information, calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Units Unit Cost Unit Selling Price $10 13 July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory 50 250 (100) 200 15 M7-8 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic LIFO LO 7-3 Complete the requirements for M7-7 assuming a periodic LIFO inventory system is used. M7-9 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Cost LO 7-3 Complete the requirements for M7-7 assuming weighted average cost is used in a periodic inventory system