You have the following information for Sheffield Inc. for the month ended June 30, 2022. Sheffield uses a periodic inventory system. Date Quantity Unit Cost or Selling Price $32 June Description Beginning inventory Purchase 1 40 June 4 135 35 June 10 Sale 110 62 June 11 Sale return 15 62 June 18 Purchase 55 38 June 18 10 38 Purchase return Sale June 25 65 68 June 28 Purchase 35 42 (21) Your Answer Correct Answer (Used) Calculate cost per unit. (Round answer to 2 decimal places, eg. 5.25.) Weighted-average cost per unit $ 36.02 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 decimal places, eg. 1,250.) LIFO FIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ Gross profit $ $ $ e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer a3) Calculate gross proftrate 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 AVERAGE-COST Gross profit rate % % % Compare results for the three cost flow assumptions and answer the following questions. gross profit. In this period of rising prices, gives the highest cost of goods sold and the gives the lowest cost of goods sold and the gross profit e Textbook and Media Save for Later Attempts: 0 of 2 used Submit