$!$

Required Information

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

In Its first month of operations, Literacy for the Illiterate opened a new bookstore and bought

merchandise in the following order: $(1)200$ units at $$7$ on January $1,(2)500$ units at $$8$ on

January $8,$ and $(3)800$ units at $$9$ on January $29.$

Assuming $975$ units are on hand at the end of the month, calculate the cost of goods $!$

Required Information

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

In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought

merchandise in the following order: $(1)200$ units at $$7$ on January $1,(2)500$ units at $$8$ on

January $8,$ and $(3)800$ units at $$9$ on January $29.$

Assuming $975$ 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.$)$