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You are provided with the following information for Whispering Winds Inc. for the month ended June 30, 2020. Whispering Winds uses the periodic method for

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You are provided with the following information for Whispering Winds Inc. for the month ended June 30, 2020. Whispering Winds uses the periodic method for inventory. Date June 1 Quantity 38 137 115 Unit Cost or Selling Price $42 46 69 69 June 4 June 10 June Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase 11 18 June 18 54 48 June 18 48 64 June June 25 28 74 52 30 Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, eg. 51.2%) LIFO FIFO AVERAGE-COST Gross profit rate 29.6 se 32.9 31.4 %

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