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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

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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) 150 units at $7 on January 1, (2) 560 units at $8 on January 8, and (3) 860 units at $10 on January 29, Assume 1,065 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 the LIFO. Assume a periodic inventory system is used (Round "Cost per Unit" to 2 decimal places.) LIFO S14,130 Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold

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