M7-7 to M7-9 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3] [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Unit Selling Price 57 July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost $10 285 12 (100) 242 $16 FIFO (Periodic) Units Cost per Total Unit $ 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from July 13 Purchase Units from Beginning Inventory Total Cost of Goods Sold Ending Inventory FIFO (Periodic) Sales Cost of Goods Sold Gross Profit LIFO (Periodic) Units Cost per Total Unit $ 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory LIFO (Periodic) Sales Cost of Goods Sold Gross Profit Weighted Average (Periodic) Units Cost per Unit Total Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory Weighted Average (Periodic) Sales Cost of Goods Sold Gross Profit