You are provided with the following information for Koetteritz Inc. for the month ended June 30, 2017. Koetteritz uses the periodic method for inventory.

Date				Description		Quantity		Unit Cost or Selling Price
June		1		Beginning inventory		39		$39
June		4		Purchase		136		42
June		10		Sale		108		72
June		11		Sale return		13		72
June		18		Purchase		52		44
June		18		Purchase return		8		44
June		25		Sale		62		77
June		28		Purchase		26		49

Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.)

Weighted-average cost per unit

$

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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 0 decimal places, e.g. 1,250.)

		LIFO		FIFO		AVERAGE-COST
The ending inventory		$		$		$
The cost of goods sold		$		$		$
Gross profit		$		$		$

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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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Compare the results for the three cost flow assumptions and answer the following questions. In this period of rising prices, gives the highest cost of goods sold and the gross profit. gives the lowest cost of goods sold and the gross profit.