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You are provided with the following information for Waterway Inc. for the month ended June 30, 2020. Waterway uses the periodic method for inventory. Quantity
You are provided with the following information for Waterway Inc. for the month ended June 30, 2020. Waterway uses the periodic method for inventory. Quantity 42 Unit Cost or Selling Price $41 46 67 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Date June 1 June 4 June 10 June 11 June 18 June 18 June 25 June 28 135 107 18 52 67 49 8 49 62 Sale Purchase 72 53 32 (a1) Your answer is correct Calculate cost per unit. (Round answer to 2 decimal places, eg, 5.25.) Weighted average cost per unit 46.58 eTextbook and Media Attempts: 1 of 3 used (a2) Your answer is correct. 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, s. 1,250.25 and other answers to decimal places, es. 1.250) LIFO FIFO AVERAGE-COST 4.482 $ 5.048 s 475116 The ending inventory The cost of goods sold Gross profit $ 7,302 $ 6,736 $ 7,033.58 $ 3.125 $ 3.691 $ 3,393.42 e Textbook and Media Attempts: 1 of 3 used (a3) Calculate gross profit rate under each of the following methods. (1) LIFO.(2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e-8.51.2%.) LIFO FIFO AVERAGE-COST Gross profit rate % % e Textbook and Media Submit Answy Attempts: 0 of 3 used Save for Later
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