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You have the following information for Blossom Inc. for the month ended October 31, 2025. Blossom uses a periodic system for inventory. You have the
You have the following information for Blossom Inc. for the month ended October 31, 2025. Blossom uses a periodic system for inventory.
You have the following information for Blossom Inc. for the month ended October 31, 2025. Blossom uses a periodic system for inventory. Calculate the weighted-average cost. (Round answer to 3 decimal places, eg. 5.125.) Weighted-average cost per unit Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods. 1. LIFO. 2. FIFO. 3. Average-cost. (Round answers to O decimal places, e.g. 125.) Calculate the 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\%) Step by Step Solution
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