*Problem 6-5B You are provided with the following information for Pronghorn Ltd. for the month ended June 30, 2017. Pronghorn uses the periodic method for inventory. Unit Cost or Selling Price 45 Units 58 196 160 48 75 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 22 80 15 87 75 51 51 80 55 44 Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit, and (iv) gross profit rate under each of the following methods. (1) FIFO. (2) Average-cost. (Round Gross profit rate to 1 decimal place, e.g. 21.5% and all other answers to 2 decimal places, e.g. 21.50. Round average unit cost to 3 decimal places, e.g. 25.167.) FIFO AVERAGE-COST The ending inventory The cost of goods sold Gross profit Gross profit rate Question Attempts: 0 of 3 used