The following are the transactions for the month of July Units Unit Cost Unit Selling Price $10 12 July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory 220 (100) 164 $16 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) Cost per Unit Total Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Periodic) Sales Cost of Goods Sold Gross Profit Assume that Simple Co. had credit sales of $255,000 and cost of goods sold of $155,000 for the period. Simple uses the aging method and estimates that the appropriate ending balance in the Allowance for Doubtful Accounts is $3,500. Before the end-of period adjustment is made, the Allowance for Doubtful Accounts has a credit balance of $300. What amount of Bad Debt Expense would the company record as an end-of-period adjustment? d Debt Expense The following are the transactions for the month of July. Unit Selling Price Units Unit Cost $10 12 July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory 220 (100) 164 $16 plems (One attempt and 45 min.) G Saved Required information 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) Cost perTotal Units Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from Beginninig Inventory Units from July 13 Purchase Total Cost of Goods Sold Ending Inventory FIFO (Periodic) Sales Cost of Goods Sold Gross Proft