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need help with accounting You are provided with the following information for Whispering Winds Inc. for the month ended June 30, 2020. Whispering Winds uses
need help with accounting
You are provided with the following information for Whispering Winds Inc. for the month ended June 30, 2020. Whispering Winds uses the periodic method for inventory. Date June 1 Quantity 38 137 115 Unit Cost or Selling Price $42 46 69 4 June June 10 11 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase 18 69 18 54 June June June June June 48 18 8 48 64 74 25 28 30 52 (21) Your Answer Correct Answer (Used) Calculate cost per unit. (Round answer to 2 decimal places, eg. 5.25.) Weighted average cost per unit $ $ 46.48 (a2) 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, e.g. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.) LIFO FIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ $ Gross profit $Step by Step Solution
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