Problem 6-05A al-a3,b (Video) You are provided with the following information for Sheffield Inc. for the month ended June 30, 2020. Sheffield uses the periodic method for inventory. Date Unit Cost or Selling Price Description Quantity June 1 June 4 June 10 June 11 June 18 June 18 June 25 June 28 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 The cost of goods sold Gross profit 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. 51.29.) LIFO F IFO AVERAGE-COST Gross profit rate LINK TO TEXT Compare the results for the three cost flow assumptions and answer the following questions. gross profit. In this period of rising prices, gives the highest cost of goods sold and the gives the lowest cost of goods sold and the gross profit