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You have the following information for Coronado Inc. for the month ended June 30, 2027. Coronado uses a periodic inventory system. Unit Cost or Date

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You have the following information for Coronado Inc. for the month ended June 30, 2027. Coronado uses a periodic inventory system. Unit Cost or Date Description Quantity Selling Price June 1 Beginning inventory 40 $23 June 4 Purchase 135 26 June 10 Sale 110 53 June 11 Sale return 15 53 June 18 Purchase 55 29 June 18 Purchase return 10 29 June 25 Sale 65 59 June 28 Purchase 35 33 A1) Calculate cost per unit. (Round ans to 2 decimal places) ANS: weighed-average cost per unit $_ 27.02 A2) Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. 1. LIFO 2. FIFO 3. Avg.-cost. (Round average cost method answer to 2 decimal places, and other answers to 0 decimal places) LIFO. FIFO. AVG.-COST The ending inventory. $ 2350 $ 2850 $ 256 6.90 The cost of goods sold. $ 4540 $ 4040 $ 4323. 20 Gross profit $ 4330 $ 48 30 $ 4547 A3) Calculate gross profit rate under each of the following methods 1. LIFO 2. FIFO 3. Avg-cost (Round answer to 1 decimal places) LIFO. FIFO. AVG.-COST Gross profit rate. %. % % 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

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