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Required information M7-11 to 13 (Static) 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 (Static) 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)300 units at $7 on January 1, (2) 450 units at $8 on January 8, and (3) 750 units at $9 on January 29, M7-12 (Static) Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic LIFO (LO 7-3) Assuming 900 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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