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The following are the transactions for the month of July. Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold

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The following are the transactions for the month of July. Unit Selling Price July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units Unit Cont 55 $10 275 (100) 230 11 $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.) FIFO (Periodic Units Cost per Unit Total $ 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold 0 0 Total Cost of Goods Sold Ending Inventory FIFO Periodic) Sales Cost of Goods Sold Gross Profit

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