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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 to O
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, eg. 125.) Ending inventory LIFO FIFO AVERAGE-COST $ Cost of goods sold $ $ $ Gross profit $ $ $ You have the following information for Sunland Inc. for the month ended October 31, 2025. Sunland uses a periodic system for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 60 $26 Oct. 9 Purchase 135 28 Oct. 11 Sale 90 40 Oct. 17. Purchase 90 29 Oct. 22 Sale 60 45 Oct. 25 Purchase 70 31 Oct. 29 Sale 100 45
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