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. Units Unit Cost Unit Selling Price July 2 Beginning Inventory July 13 Purchase I July 25 Sold (100) $14 July 31 Ending Inventory 158 215 $10 11 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) Cost per Units Total Unit $ 0 Beginning Inventory Purchases 0 July 13 Goods Available for Sale Cost of Goods Sold Units from Beginning Inventory Units from July 13 Purchase Total Cost of Goods Sold Ending Inventory 0 LIFO (Periodic) Sales Cost of Goods Sold Gross Profit