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Required information In its first month of operations, Literacy for the Illiterate opened a new...

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Accounting

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Required information In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 300 units at $7 on January 1, (2) 450 units at $11 on January 8, and (3) 940 units at $12 on January 29. Assuming 1,090 units are on hand at the end of the month. Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the FIFO. Assume perpetual inventory system and sold 600 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal places.) FIFO Goods Available for Sale Cost of Goods Sold Ending Inventory

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