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You have the following information for Marigold Inc. for the month ended October 31, 2022. Marigold uses a periodic method for inventory. Calculate ending inventory,
You have the following information for Marigold Inc. for the month ended October 31, 2022. Marigold uses a periodic method for inventory. Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5.125.) 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\%)
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