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Saved Required information M7-11 to 13 (Algo) Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic FIFO, LIFO,
Saved Required information M7-11 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 literate opened a new bookstore and bought merchandise in the following order: (1) 180 units at $5 on January 1. (2)510 units at $6 on January 8, and (3) 810 units at $7 on January 29, M7-12 (Algo) Calculating Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under Periodic LIFO [LO 7-3] Assuming 900 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 LIFO Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold
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