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In its first month of operations, Literacy for the Illterate opened a new bookstore and...

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Accounting

In its first month of operations, Literacy for the Illterate opened a new bookstore and bought merchandis the following order: (1) 260 units at $7 on January 1, (2) 470 units at $8 on January 8, and (3) 770 units $9 on January 29
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In its first month of operations, Literacy for the lliterate opened a new bookstore and bought merchandise in the following order: (1) 260 units at $7 on January 1, (2) 470 units at $8 on January 8, and (3) 770 units at $9 on January 29 Assume 950 units are on hand at the end of the month, calculate the cost of goods available for sale ending inventory, and cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost flow assumptions. Assume a periodic inventory system is used. (Round "Cost per Unit to 2 decimal places.) Weighted Average Cost LIFO FIFO 12,510 $ 12,510 12,51o s Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold

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