Required information M7-7 to M7-9 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. Units Unit Cost Unit Selling Price July 1 Beginning Inventory $10 July 13 Purchase 230 July 25 Sold (100) $14 July 31 Ending Inventory 11 176 M7-7 Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO [LO 7-3) Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) FIFO (Periodic) Cost per Units Total Unit $ 0 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold 0 Total Cost of Goods Sold Ending Inventory FIFO (Periodic) Sales Cost of Goods Sold Gross Profit