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 Price Unit Cost $ 10 11 July 1 July 13 July 25 my 31 Units 4) 215 (180) 158 Beginning Inventory Purchase Sold Ending Inventory $ 14 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 Required information 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. Cost per Unit Units Total FIFO (Periodic) S 0 $ 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold $ 0 Total Cost of Goods Sold Ending Inventory Required A Required B > Required A Required B Calculate sales, cost of goods sold, and gross proft, under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Sales Cost of Goods Sold Gross Profit