Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units 56 280 (100) 236 Unit Cost $ 10 13 Unit Selling Price $ 15 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. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Required information [The following information applies to the questions displayed below] The following are the transactions for the month of July. equired: Calculate cost of goods available for sale and ending inventory under FFF. Assume a periodic inventory system is used. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assme a periodic inventory system is used