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You have the following information for Kingbird, Inc. for the month ended October 31, 2022. Kingbird uses a periodic method for inventory. Unit Cost or
You have the following information for Kingbird, Inc. for the month ended October 31, 2022. Kingbird uses a periodic method for inventory. Unit Cost or Selling Price Description Units Date $22 55 Beginning inventory Oct. 1 24 120 Oct. 9 Purchase 45 90 Oct. 11 Sale 25 90 Oct. 17 Purchase 50 55 Oct. 22 Sale 27 65 Oct. 25 Purchase 50 100 Oct. 29 Sale x Your answer is incorrect Calculate the weighted-average cost. (Round answer to 3 decimal places, eg. 5.125) S 11.800 Weighted-average cost per unit 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, eg. 125.) AVERAGE-COST FIFO LIFO 2.141 22555 1,930 The ending inventory S 5,954 5.840 5.290 The cost of goods sold $ 5.846 5,960 Gross profit 6,510 eTextbook and Media List of Accounts Your answer is partially correct Calculate gross profit rate under each of the following methods Your answer is partially correct 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 % ) FIFO LIFO AVERAGE-COST Gross profit rate 9% 55.2 % 49.5 50.5 eTextbook and Media List of Accounts
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