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. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost Unit Selling Price 52 $10 260 11 (100) $14 212 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] 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. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) FIFO (Periodic) Units Cost per Unit Total $ 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold 0 0 Total Cost of Goods Sold Ending Inventory FIFO (Periodic) Sales Cost of Goods Sold Gross Profit Required information 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 July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 52 $10 260 11 (100) 212 $14 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] Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) LIFO (Periodic) Units Cost per Unit Total $ 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold 0 0 Total Cost of Goods Sold Ending Inventory LIFO (Periodic) Sales Cost of Goods Sold Gross Profit Required information 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 July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cost 52 $10 260 11 (100) $14 212 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) Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under 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.) Weighted Average (Periodic) Units Cost per Unit Total $ 0 0 Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory 0 Weighted Average (Periodic) Sales Cost of Goods Sold Gross Profit