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Required information M7-11 to 13 (Algo) Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO, and

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Required information M7-11 to 13 (Algo) Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO, and weighted Average Cost [LO 7-3] [The following information applies to the questions displayed below.) In its first month of operations, Literacy for the literate opened a new bookstore and bought merchandise in the following order. (1) 150 units at $8 on January 1, (2) 530 units at $9 on January 8, and (3) 830 units at $11 on January 29, M7-12 (Algo) Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic LIFO (LO 7-3) Assuming 1020 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under LIFO. Assume a periodic inventory system is used (Round "Cost per Unit" to 2 decimal places.) LIFO Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold

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