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Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July Units Unit Cost Unit

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Required information [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 July 13 July 25 July 31 $10 Beginning Inventory Purchase Sold Ending Inventory 275 (100) 230 $14 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.)

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