[The following information applies to the questions displayed below.]

The following are the transactions for the month of July.

		Units		Unit Cost				Unit Selling Price
July 1	Beginning Inventory	40			$	10
July 13	Purchase	200				11
July 25	Sold	(100	)					$	14
July 31	Ending Inventory	140

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.)Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.)Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under 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.)

Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Unit Selling Price July 1 July 13 July 25 July 31 11 Units Unit Cost 40 $10 200 (100) 140 Beginning Inventory Purchase Sold Ending Inventory $14 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) LIFO (Periodic) Cost per Units Unit Total $ 0 Beginning Inventory 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 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 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under 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.) Weighted Average (Periodic) Units Cost per Unit Total $ 0 0 Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory 0 Weighted Average (Periodic)