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The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 41 $ 10 July 13

The following are the transactions for the month of July.

Units Unit Cost Unit Selling Price
July 1 Beginning Inventory 41 $ 10
July 13 Purchase 205 12
July 25 Sold ( 100 ) $ 16

July 31 Ending Inventory 146

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. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.

FIFO (Periodic)
Units Cost per Unit Total
Beginning Inventory $0
Purchases
July 13 0
Goods Available for Sale
Cost of Goods Sold
Total Cost of Goods Sold 0
Ending Inventory
FIFO (Periodic)
Sales
Cost of Goods Sold
Gross Profit
LIFO (Periodic)
Units Cost per Unit Total
Beginning Inventory $0
Purchases
July 13 0
Goods Available for Sale
Cost of Goods Sold
Total Cost of Goods Sold 0
Ending Inventory
LIFO (Periodic)
Sales
Cost of Goods Sold
Gross Profit
Weighted Average (Periodic)
Units Cost per Unit Total
Beginning Inventory $0
Purchases 0
Goods Available for Sale
Cost of Goods Sold 0
Ending Inventory
Weighted Average (Periodic)
Sales
Cost of Goods Sold
Gross Profit

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