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Required information

Part $2$ of $3$

$1\mathrm{.}78$

points

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References

M$7-11$ to $13($Algo$)$ Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO, and Weighted Average Cost $[$LO $7-3]$

$[$The following information applies to the questions displayed below.$]$

In its first month of operations, Literacy for the lliterate opened a new bookstore and bought merchandise in the following order: $(1)420$ units at $$9$ on January $1,(2)600$ units at $$10$ on January $8,$ and $(3)900$ units at $$11$ on January $29.$

M$7-12($Algo$)$ Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic LIFO $[$LO $7-3]$

Assuming $1,120$ units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of goods sold under LIFO. Assume a periodic inventory system is used. $($Round "Cost per Unit" to $2$ decimal places.$)$

$\backslash$table$[[,$LIFO,$],[$Cost of Goods Available for Sale,$$,19,680],[$Ending Inventory,,$],[$Cost of Goods Sold,$$,8,800]]$