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

Date				Description		Quantity		Unit Cost or Selling Price
June		1		Beginning inventory		40		$40
June		4		Purchase		138		44
June		10		Sale		107		70
June		11		Sale return		13		70
June		18		Purchase		53		46
June		18		Purchase return		10		46
June		25		Sale		63		75
June		28		Purchase		26		50

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

Weighted-average cost per unit

$

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. Use weighted-average unit cost rounded to 2 decimal places for computations.)

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

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			%			%			%

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