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You have the following information for Marigold Corp. for the month ended October 31, 2022. Marigold uses a periodic method for inventory Date Units Description
You have the following information for Marigold Corp. for the month ended October 31, 2022. Marigold uses a periodic method for inventory Date Units Description Beginning inventory Purchase Unit Cost or Selling Price $26 Oct. 1 55 Oct. 9 140 28 Oct. 11 Sale 100 45 Purchase 100 29 Oct. 17 Oct. 22 Sale 55 50 Oct. 25 Purchase 65 31 Oct. 29 Sale 110 50 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%) LIFO FIFO Gross profit rate % %
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