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 Unit Cost July 1 Price Beginning Inventory July 13 Purchase 225 July 25 $ 15 July 31 Ending Inventory Units 45 $ 10 13 Sold (100) 170 M7-8 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic LIFO (LO 7-3) Required: a. Calculate cost of goods available for sale and ending Inventory under LIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under LIFO. 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 LIFO. Assume a periodic inventory system is used. LIFO (Periodic) Units Cost per Unit Total Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold 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 July 13 Purchase 225 July 25 Sold $ 15 July 31 Ending Inventory 45 $ 10 13 (100) 178 M7-8 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic LIFO [LO 7-3) Required: a. Calculate cost of goods available for sale and ending inventory under LIFO. Assume a periodic Inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under LIFO. 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 LIFO. Assume a periodic Inventory system is used. LIFO (Periodie) Sales Cost of Goods Sold Gross Profit