calculate the gross profit under each of the following methods.
LIFO
FIFO
Average cost (round answers to 1 decimal place)
\begin{tabular}{llrc} Date & \multicolumn{1}{c}{ Description } & Units & UnitCostorSellingPrice \\ Oct. 1 & Beginning inventory & 55 & $26 \\ Oct. 9 & Purchase & 121 & 28 \\ Oct. 11 & Sale & 107 & 36 \\ Oct. 17 & Purchase & 109 & 29 \\ Oct. 22 & Sale & 62 & 41 \\ Oct. 25 & Purchase & 67 & 31 \\ Oct. 29 & Sale & 112 & 41 \end{tabular} \begin{tabular}{|llrc} Date & Description & Units & UnitCostorSellingPrice \\ \hline Oct.1 & Beginning inventory & 55 & $26 \\ Oct.9 & Purchase & 121 & 28 \\ Oct.11 & Sale & 107 & 36 \\ Oct. 17 & Purchase & 109 & 29 \\ Oct. 22 & Sale & 62 & 41 \\ Oct. 25 & Purchase & 67 & 31 \\ \hline Oct. 29 & Sale & 112 & 41 \end{tabular} \begin{tabular}{llrc} Date & \multicolumn{1}{c}{ Description } & Units & UnitCostorSellingPrice \\ Oct. 1 & Beginning inventory & 55 & $26 \\ Oct. 9 & Purchase & 121 & 28 \\ Oct. 11 & Sale & 107 & 36 \\ Oct. 17 & Purchase & 109 & 29 \\ Oct. 22 & Sale & 62 & 41 \\ Oct. 25 & Purchase & 67 & 31 \\ Oct. 29 & Sale & 112 & 41 \end{tabular} Calculate gross profit rate under each of the folfowing methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round onswers to 1 decimal place, eg. 51.296) Calculate gross profit rate under each of the folfowing methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round onswers to 1 decimal place, eg. 51.296) \begin{tabular}{|llrc} Date & Description & Units & UnitCostorSellingPrice \\ \hline Oct.1 & Beginning inventory & 55 & $26 \\ Oct.9 & Purchase & 121 & 28 \\ Oct.11 & Sale & 107 & 36 \\ Oct. 17 & Purchase & 109 & 29 \\ Oct. 22 & Sale & 62 & 41 \\ Oct. 25 & Purchase & 67 & 31 \\ \hline Oct. 29 & Sale & 112 & 41 \end{tabular} Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2\%) \begin{tabular}{llrc} Date & \multicolumn{1}{c}{ Description } & Units & UnitCostorSellingPrice \\ Oct. 1 & Beginning inventory & 55 & $26 \\ Oct. 9 & Purchase & 121 & 28 \\ Oct. 11 & Sale & 107 & 36 \\ Oct. 17 & Purchase & 109 & 29 \\ Oct. 22 & Sale & 62 & 41 \\ Oct. 25 & Purchase & 67 & 31 \\ Oct. 29 & Sale & 112 & 41 \end{tabular} \begin{tabular}{|llrc} Date & Description & Units & UnitCostorSellingPrice \\ \hline Oct.1 & Beginning inventory & 55 & $26 \\ Oct.9 & Purchase & 121 & 28 \\ Oct.11 & Sale & 107 & 36 \\ Oct. 17 & Purchase & 109 & 29 \\ Oct. 22 & Sale & 62 & 41 \\ Oct. 25 & Purchase & 67 & 31 \\ \hline Oct. 29 & Sale & 112 & 41 \end{tabular} \begin{tabular}{llrc} Date & \multicolumn{1}{c}{ Description } & Units & UnitCostorSellingPrice \\ Oct. 1 & Beginning inventory & 55 & $26 \\ Oct. 9 & Purchase & 121 & 28 \\ Oct. 11 & Sale & 107 & 36 \\ Oct. 17 & Purchase & 109 & 29 \\ Oct. 22 & Sale & 62 & 41 \\ Oct. 25 & Purchase & 67 & 31 \\ Oct. 29 & Sale & 112 & 41 \end{tabular} Calculate gross profit rate under each of the folfowing methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round onswers to 1 decimal place, eg. 51.296) Calculate gross profit rate under each of the folfowing methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round onswers to 1 decimal place, eg. 51.296) \begin{tabular}{|llrc} Date & Description & Units & UnitCostorSellingPrice \\ \hline Oct.1 & Beginning inventory & 55 & $26 \\ Oct.9 & Purchase & 121 & 28 \\ Oct.11 & Sale & 107 & 36 \\ Oct. 17 & Purchase & 109 & 29 \\ Oct. 22 & Sale & 62 & 41 \\ Oct. 25 & Purchase & 67 & 31 \\ \hline Oct. 29 & Sale & 112 & 41 \end{tabular} Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2\%)
