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Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods. 1. LIFO. 2. FIFO. 3. Average cost. (Round answers
Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods. 1. LIFO. 2. FIFO. 3. Average cost. (Round answers to O decimal places, e.g. 125.) 13 LIFO FIFO $ AVERAGE-COST $ Ending inventory Cost of goods sold $ $ $ Gross profit $ $ $ You have the following information for Sandhill Inc. for the month ended October 31, 2025. Sandhill uses a periodic system for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 55 Oct. 9 Purchase 120 Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale 322 & 238 90 24 45 90 55 65 100 222228 $22 25 50 27 50
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