You are provided with the following information for Najera Inc. for the month ended June 30, 2015. Najera uses the periodic method for inventory.

Date	Description	Quantity	Unit Cost or Selling Price
June1	Beginning inventory	40	$40
June4	Purchase	135	44
June10	Sale	110	70
June11	Sale return	15	70
June18	Purchase	55	46
June18	Purchase return	10	46
June25	Sale	65	75
June28	Purchase	30	50

A. Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit, and (iv) gross profit rate under each of the following methods: LIFO, FIFO, Average Cost.

B. Compare results for the three cost flow assumptions.

(a)	Page 318
COST OF GOODS AVAILABLE FOR SALE
									Unit		Total
Date	Explanation					Units			Cost		Cost
Ending Inventory in Units						Sales Revenue
Explanation					Units					Unit	Total
						Date			Units	Price	Sales
(1)
LIFO
(i) Ending Inventory							(ii) Cost of Goods Sold
			Unit		Total
Date	Units	x	Cost	=	Cost
(iii) Gross Profit							(iv) Gross Profit Rate

(2)	Page 318
FIFO
(i) Ending Inventory							(ii) Cost of Goods Sold
			Unit		Total
Date	Units	x	Cost	=	Cost
(iii) Gross Profit							(iv) Gross Profit Rate
(3)
Average-Cost
Weighted average cost per unit:
(i) Ending Inventory							(ii) Cost of Goods Sold
(iii) Gross Profit							(iv) Gross Profit Rate
(b)