M$7-20$ to $22($Algo$)($Supplement $7$A$)$ Calculating Cost of Goods Sold and Ending Inventory under Perpetual FIFO, LIFO, and Weighted Average Cost $[$LO $7-$S$1]$

In its first month of operations, Literacy for the Illiterate opened a new brokstore and bought merchandise in the following order: $(1)300$ units at $$4$ on January $1,(2)450$ units at $$7$ on January $8,$ and $(3)950$ units at $$8$ on January $29.$ Assume $1,100$ units are on hand at the end of the month.

M$7-20($Algo$)($Supplement $7$A$)$ Calculating Cost of Goods Sold and Ending Inventory under Perpetual FIFC $[$LO $7-$S$1]$

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.$)$

$\backslash$table$[[$Goods Available for Sale$],[$Cost of Goods Sold$],[$Ending Inventory$]]$