You have the following information for Coronado Inc. for the month ended June $30,$

Coronado uses a periodic inventory system.

A$1)$ Calculate cost per unit. $($Round ans to $2$ decimal places$)$

ANS: weighed$-$average cost per unit $$.$

A$2)$ Calculate ending inventory, cost of goods sold, gross

profit under each of the following methods. $1.$ LIFO $2.$ FIFO

Avg.$-$cost$.($Round average cost method answer to $2$

decimal places, and other answers to $0$ decimal places$)$

A$3)$ Calculate gross profit rate under each of the following methods

LIFO $2.$ FIFO $3.$ Avg$-$cost $($Round answer to $1$ decimal places$)$

B$)$ Compare results of the three cost flows assumptions and

answer the following questions.

In this period of rising prices

gives the highest cost of goods sold and

the

gross profit.

gives the lowest cost of goods sold and the

gross profit.