You have the following information for Sheffield Corp. for the month ended October 31, 2022. Sheffield uses a periodic method for Inventory Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 70 $22 Oct. Purchase 120 24 Oct. 11 90 35 Oct 17 Purchase Oct. 22 Sale 70 40 Oct. 25 Purchase 80 27 Oct. 29 Sale 100 Sale 40 (1) Your Answer Correct Answer Your answer is correct Calculate the weighted average cost. (Round answer to 3 decimal places, es 5.125.) Weighted average cost per unit 24528 $ eTextbook and Media Assistance Used Solution List of Accounts Attempts: 3 of 3 used 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 o decimal place, e.g. 125.) LIFO FIFO AVERAGE-COST The ending inventory The cost of goods sold Gross profit 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 Gross profit rate FIFO AVERAGE-COST