You have the following information for Van Gogh Inc. for the month ended October 31, 2022. Van Gogh uses a periodic method for inventory. 

a. Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profi t, and (iv) gross profi t rate under each of the following methods. 

1. LIFO. 

2. FIFO. 

3. Average-cost. 

b. Compare results for the three cost flow assumptions.

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Unit Cost or Selling Price Date Description Beginning inventory Purchase Units Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 $24 120 26 35 Sale 100 27 40 29 40 Purchase 100 60 Sale Oct. 25 Oct. 29 70 110 Purchase Sale