The following are the transactions for the month of July.

Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used.

Unit Units Unit Cost Selling Price July 1 Beginning Inventory 51 $10 255 July 13 Purchase 12 (100) $16 July 25 Sold July 31 Ending Inventory 206