The following are the transactions for the month of July.

		Units	Unit Cost	Unit Selling Price
July 1	Beginning Inventory	49	$ 10
July 13	Purchase	245	11
July 25	Sold	(100)		$ 14
July 31	Ending Inventory	194

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.