Required information M7-11 to 13 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 Illiterate opened a new bookstore and bought merchandise in the following order: (1) 400 units at $7 on January 1, (2) 550 units at $8 on January 8, and (3) 850 units at $9 on January 29. 17-12 Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic LIFO (LO 7-3] ssume 1,060 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of oods sold under the LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.) LIFO 14,850 $ Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold