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 July 1 Beginning Inventory 59 July 13 Purchase July 25 sold July 31 Ending Inventory Units Unit Cost $ 10 13 295 (100) 254 $ 15 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 Periodici Units Cost per Total 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. FIEO (Periodic) Units Cost per Total Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Unit Total Cost of Goods Sold Ending Inventory Required Required B 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 periodic Inventory system is used ELEO (Periodic) Sales Cost of Goods Sold Gross Profit