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how do you calculate gross profit using LIFO, FIFO and average cost? Problem 6- Part Level Submission) You have the following information for Waterway Industries

how do you calculate gross profit using LIFO, FIFO and average cost?

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Problem 6- Part Level Submission) You have the following information for Waterway Industries for the month ended October 31, 2017. Waterway Industries uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 54 $23 Oct. 9 Purchase 132 25 Oct. 11 Sale 108 34 Oct. 17 Purchase 103 26 Oct. 22 Sale 55 39 Oct. 25 Purchase 65 28 Oct. 29 Sale 121 39Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125. ) Weighted-average cost per unit $ 25537 Click if you would like to Show Work for this question: Open Show Work alculate ending inventory, cost of goods sold, gross profit under each of the following methods. 1 ) LIFO. 2) FIFO. 3) Average-cost. (Round answers to 0 decimal place, e.g. 125.) LIFO FIFO AVERAGE-COST he ending inventory 1642 1950 1788 he cost of goods sold 7398 7090 7252 iross profit 3138 3446 3284 +A tA UA- lick if you would like to Show Work for this question: Open Show WorkCalculate 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% ) LIFO FIFO AVERAGE- COST Gross profit rate 9/0 0/0 9/0 Click if you would like to Show Work for this question : Open Show Work

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