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 Unit Cost Price July 1 Beginning Inventory July 13 Purchase July 25 Sold (100) $ 15 July 31 Ending Inventory 170 45 225 $ 10 13 M7-7 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO (LO 7-3) Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending Inventory under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Units Unit Beginning Inventory Purchases Cost per Total $ July 13 $ 0 Goods Available for Sale Cost of Goods Sold $ 0 Total Cost of Goods Sold Ending Inventory 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 Unit Cost Price July 1 Beginning Inventory 45 July 13 July 25 $ 15 July 31 Ending Inventory $ 10 13 Purchase Sold 225 (100) 17e M7-7 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO [LO 7-3] Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. 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 FIFO. Assume a perlodic Inventory system is used