please provide detailed working, Please provide answer in text (Without image) Required information.[The following information applies to the questions displayed below.]The following are the transactions for the month of July.July 1 Beginning InventoryJuly 13PurchaseJuly 25July 31SoldEnding InventoryRequired A Required BFIFO (Periodic)Beginning InventoryPurchasesJuly 13Goods Available for SaleCost of Goods SoldRequired:a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used.b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used.Complete this question by entering your answers in the tabs below.Units from Beginning InventoryUnits from July 13 PurchaseTotal Cost of Goods SoldEnding InventoryCalculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used.Cost perUnitRequired A Required BUnits43215FIFO (Periodic)SalesCost of Goods SoldGross Profit(100)158Units$43 $100100215 $Unit Cost$ 101143 $$< Required A10 $< Required AUnit SellingPrice1011Total11 S 2,365$258$Complete this question by entering your answers in the tabs below.430$ 14430Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used.Required B >Required B

FIFO Method: Which is a method used to calculate the cost of goods sold and the cost of ending…

! Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory Units 43 215 (100) 158 Unit Cost $ 10 11 Unit Selling Price $ 14 Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used.