Required information M7-7 to M7-9 (Algo) Calculating cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3) The following information applies to the questions displayed below) The following are the transactions for the month of July Unit Selling Units July 1 Beginning Inventory 43 July 13 Purchase 215 July 25 Sold (100) $14 July 31 Ending Inventory 158 Price Unit Cost $ 10 11 M7-9 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Cost [LO 7-3] Required: Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system - Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assime a narodia in s used M7-9 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic Weighted Average Cost [LO 7-3] Required: a. Calculate cost of goods available for sale and ending inventory under weighted average cost. Assume a periodic inventory system is used b. Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Calculate sales, cost of goods sold, and gross profit, under weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to the nearest whole dollar amount.) Weighted Average (Periodic) Sales $ 1.400 Cost of Goods Sold 1,057 Gross Profit S 343