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Required information The following information applies to the questions displayed below In its first month...

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Accounting

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Required information The following information applies to the questions displayed below In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 200 units at $7 on January 1, (2) 500 units at $8 on January 8, and (3) 800 units at $9 on January 29. Assume 975 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 FIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places FIFO Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold

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