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Required information In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300

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Required information In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $7 on January 1, (2) 450 units at $8 on January 8, and (3) 750 units at $9 on January 29, Assume 900 units are on hand at the end of the month. Required: Calculate the cost of goods avaliable for sale, cost of goods sold, and ending Inventory under the FIFO. Assume perpetual Inventory system and sold 600 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.) FIFO S 12,450 Goods Available for Sale Cost of Goods Sold Ending Inventory

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