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Problem 6-05A a1-a3,b (Video) You are provided with the following information for Sunland Inc. for the month ended June 30, 2020. Sunland uses the periodic
Problem 6-05A a1-a3,b (Video) You are provided with the following information for Sunland Inc. for the month ended June 30, 2020. Sunland uses the periodic method for inventory. Quantity Unit Cost or Selling Price $38 Date June 1 June 4 June 10 June 11 June 18 June 18 June 25 June 28 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted average cost per unit LINK TO TEXT 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, e.g. 1,250.25 and other answers to o decimal places, e.g. 1,250.) LIFO FIFO AVERAGE-COST The ending inventory s ta The cost of goods sold ta Gross profit ta LINK TO TEXT 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%.) LIFO FIFO AVERAGE-COST Gross profit rate % LINK TO TEXT
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