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Problem 6-05A al-a3,b (Video) You are provided with the following information for Crane Inc. for the month ended June 30, 2020. Crane uses the periodic
Problem 6-05A al-a3,b (Video) You are provided with the following information for Crane Inc. for the month ended June 30, 2020. Crane uses the periodic method for inventory. Date Description Unit Cost or Selling Price Quantity June 1 41 $41 Beginning inventory Purchase June 4 136 46 June 10 Sale 105 72 June 11 Sale return 18 72 June 18 Purchase 55 48 June 18 Purchase return 10 48 June 25 Sale 66 77 June 28 Purchase 31 53 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 $ $ EA 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 % % %
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