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 Quantity Unit Cost or Selling Price 136 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 10443 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. 51.2%.) LIFO FIFO 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. LINK TO TEXT VIDEO: SIMILAR