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You have the following information for Blue Spruce Corp. for the month ended October 31, 2022. Blue Spruce uses a periodic method for inventory. Date

You have the following information for Blue Spruce Corp. for the month ended October 31, 2022. Blue Spruce uses a periodic method for inventory.

Date

Description

Units

Unit Cost or Selling Price

Oct. 1

Beginning inventory

50 $22

Oct. 9

Purchase

125 24

Oct. 11

Sale

90 45

Oct. 17

Purchase

90 25

Oct. 22

Sale

50 50

Oct. 25

Purchase

60 27

Oct. 29

Sale

100 50

Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)

Weighted-average cost per unit

$enter weighted-average cost per unit in dollars

Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 0 decimal place, e.g. 125.)

LIFO

FIFO

AVERAGE-COST

The ending inventory

$enter a dollar amount $enter a dollar amount $enter a dollar amount

The cost of goods sold

$enter a dollar amount $enter a dollar amount $enter a dollar amount

Gross profit

$enter a dollar amount $enter a dollar amount

$enter a dollar amount

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

enter a gross profit rate in percentages rounded to 1 decimal place % enter a gross profit rate in percentages rounded to 1 decimal place % enter a gross profit rate in percentages rounded to 1 decimal place %

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