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You have the following information for Bonita Inc. for the month ended June 30, 2022. Bonita uses a periodic inventory system. Date Description Quantity Unit

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You have the following information for Bonita Inc. for the month ended June 30, 2022. Bonita uses a periodic inventory system. Date Description Quantity Unit Cost or Selling Price June 1 40 $38 Beginning inventory Purchase June 4 135 41 June 10 Sale 110 68 June 11 Sale return 15 68 June 18 Purchase 55 44 June 18 Purchase return 10 44 June 25 Sale 65 74 June 28 Purchase 35 48 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 % %

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