Required information M7-20 to 22 (Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under Perpetual FIFO, LIFO, and Weighted Average Cost [LO 7-S1] 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 $6 on January 1, (2) 600 units at $7 on January 8, and (3) 920 units at $8 on January 29. Assuming 1,120 units are on hand at the end of the month. M7-20 (Supplement 7A) Calculating Cost of Goods Sold and Ending Inventory under Perpetual FIFO (LO 7-S1) Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the FIFO. Assume perpetual inventory system and sold 800 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.) FIFO Goods Available for Sale Cost of Goods Sold Ending Inventory $ 1,120 LIFO Goods Available for Sale Cost of Goods Sold Ending Inventory Weighted Average Cost Goods Available for Sale Cost of Goods Sold Ending Inventory