Question 6 of 6 - 77 III You are provided with the following information for Bonita Inc. for the month ended June 30, 2022. Bonita uses the periodic method for inventory system. Unit Cost or Selling Price Date Description Quantity June 1 Beginning inventory 40 $37 June 4 Purchase 135 40 June 10 Sale 110 66 June 11 Sale return 15 66 June 18 Purchase 55 46 S June 18 Purchase return 10 46 June 25 Sale 57 71 June 28 Purchase 35 50 Calculate weighted average unit cost. (Round answer to 3 decimal places, e.g. 5.225.) Weighted average unit cost $ e Textbook and Media Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods: (1) LIFO, (2) FIFO, and (3) average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to decimal places, e.g. 1,250.) LIFO FIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ Gross profit $ $ $ decimal place, e.g. 51.2%.) LIFO FIFO AVERAGE-COST Gross profit rate % % % e Textbook and Media Compare the results for the three cost flow assumptions and answer the following questions. gross profit. In this period of rising prices, FIFO gives the highest cost of goods sold and the highest LIFO gives the lowest cost of goods sold and the lowest gross profit. Average-cost gives results that fall those for LIFO and FIFO. e Textbook and Media