Can someone please work on this problem, I have an excel spreadsheet that goes with this problem for guidance. Thanks!

Calculate ending inventory, cost of goods sold, gross profit, and gross profit rate under periodic method; compare results.

(LO 2, 3)

P6-5BYou are provided with the following information for Perkins Inc. for the month ended October 31, 2017. Perkins uses a periodic method for inventory.Unit Cost or

DateDescriptionUnitsSelling Price

October1Beginning inventory60$25

October9Purchase12026

October 11Sale10035

October 17Purchase7027

October 22Sale6040

October 25Purchase8028

October 29Sale11040

Instructions

(a)(iii) Gross profit:

LIFO$3,050

FIFO$3,230

Average$3,141

(a) Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit, and

(iv) gross profit rate under each of the following methods.(1) LIFO.

(2) FIFO.

(3) Average-cost. (Round average cost per unit to 3 decimal places.)

(b) Compare results for the three cost flow assumptions.