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the red boxes indicate the wrong answers and the green are the correct. I'm just confused on what the red boxes answers are You have
the red boxes indicate the wrong answers and the green are the correct. I'm just confused on what the red boxes answers are
You have the following information for Metlock, Inc. for the month ended October 31, 2017 Metlock, Inc. uses a periodic method for inventory Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 60 $26 Oct. 9 Purchase 128 28 Oct. 11 Sale 109 34 Oct. 17 Purchase 110 29 Oct 22 Sale 55 39 Oct.25 Purchase 71 31 Oct. 29 Sale 118 39 Your answer is correct. Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average cost per unit $ 28.550 Your answer is partially correct. Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO (2) FIFO. (3) Average-cost. (Round answers to decimal place, e.g. 125.) LIFO FIFO AVERAGE COST The ending inventory 2665 $ 2316 $ 2484 The cost of goods sold $ 7870 $ 8219 $ 8051 Gross profit $ 2583 $ 2234 $ 2402 Tout divers party Calculate gross profit rate under each of the following methods. (1) LIFO (2) FIFO (3) Average cost. (Round answers to 1 decimal place, c.g. 51.2%) LIFO FIFO AVERAGE-COST Gross profit rate 247 % 21.4 23 % Step by Step Solution
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