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help! You have the following information for Oriole Inc. for the month ended June 30, 2022 Oriole uses a periodic inventory system Date Description Quantity
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You have the following information for Oriole Inc. for the month ended June 30, 2022 Oriole uses a periodic inventory system Date Description Quantity Unit Cost or Selling Price June 1 40 $34 Beginning inventory Purchase June 4 135 37 June 10 Sale 110 64 June 11 Sale return 15 64 June 18 Purchase 55 40 June 18 Purchase return 10 40 June 25 Sale 65 70 June 28 Purchase 35 44 Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average- cost. (Round average-cost method answers to 2 decimal places, eg. 1,250.25 and other answers to decimal places, eg. 1,250.) LIFO FIFO AVERAGE-COST The ending inventory $ 4285 $ A The cost of goods sold $ 5270 $ $ Gross profit 3670 Step by Step Solution
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