please answer both parts with correct and detailed calculations and explanations. make sure supporting statements are also provided for each step and calculation.

Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Unit Selling Unita Unit Cost Price July 1 Beginning Inventory 43 $ 10 July 13 Purchase 215 July 25 Sold (100) $ 14 July 31 Ending Inventory 158 Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Units Cost per Unit Total Beginning Inventory 43 $ 10 S 430 Purchases July 13 215 $ 11 $ 2,365 Goods Available for Sale S 258 Cost of Goods Sold Units from Beginning Inventory 43 $ 10 Units from July 13 Purchase 11 Total Cost of Goods Sold S 130 Ending Inventory Complete this question by entering your answers in the tabs below. Required A Required B Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Sales 100 Cost of Goods Sold 100 Gross Profit Complete this question by entering your answers in the tabs below. Required A Required B Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Sales 100 Cost of Goods Sold 100 Gross Profit