You have the following information for Lily Inc. for the month ended June 30, 2022. Lily uses a periodic inventory system. Unit Cost or Date Description Quantity Selling Price June 1 Beginning inventory 40 $46 June 4 Purchase 135 June 10 Sale 110 June 11 Sale return 15 June 18 Purchase 55 June 18 Purchase return 10 June 25 Sale 65 June 28 Purchase 35 2 2 2 3 35 49 76 76 53 82 57 (a1) Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit eTextbook and Media Save for Later $ Attempts: 0 of 2 used Submit Answer (a2) Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average- cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to O decimal places, e.g. 1,250.) The ending inventory The cost of goods sold Gross profit eTextbook and Media Save for Later LIFO $ FIFO $ $ AVERAGE-COST Attempts: 0 of 2 used Submit Answer (a2) Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average- cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to O decimal places, e.g. 1,250.) The ending inventory The cost of goods sold Gross profit eTextbook and Media Save for Later LIFO $ FIFO $ AVERAGE-COST Attempts: 0 of 2 used Submit Answer (a3) Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2%.) (b) LIFO Gross profit rate eTextbook and Media Save for Later % FIFO % Compare results for the three cost flow assumptions and answer the following questions. AVERAGE-COST % Attempts: 0 of 2 used Submit Answer In this period of rising prices, gives the lowest cost of goods sold and the gives the highest cost of goods sold and the gross profit. gross profit. eTextbook and Media Save for Later Attempts: 0 of 2 used Submit