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You have the following information for Bonita Industries for the month ended October 31, 2022. Bonita uses a periodic method for inventory. - Calculate the
You have the following information for Bonita Industries for the month ended October 31, 2022. Bonita uses a periodic method for inventory.
- Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)
- Calculate ending inventory, cost of goods sold, gross profit under each of the following methods.
- LIFO
- FIFO
- Average-cost. (Round answers to 0 decimal place, e.g. 125.)
- Calculate gross profit rate under each of the following methods.
- LIFO.
- FIFO.
- Average-cost. (Round answers to 1 decimal place, e.g. 51.2%)
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