Question: explain please for a thumbs up!! Required information [The following information applies to the questions displayed below.] In its first manth of operations, Literacy for
Required information [The following information applies to the questions displayed below.] In its first manth of operations, Literacy for the Illiterate 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. Issuming 950 units are on hand at the end of the month, calculate the cost of goods available for sale, ending inventory, and cost of oods sold under FIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.)
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