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You have the following information for Sheffield Inc. for the month ended October 31, 2022. Sheffield uses a periodic method for inventory. Date Description Units

You have the following information for Sheffield Inc. 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

54 $26

Oct. 9

Purchase

128 28

Oct. 11

Sale

104 33

Oct. 17

Purchase

108 29

Oct. 22

Sale

64 38

Oct. 25

Purchase

75 31

Oct. 29

Sale

103 38

image text in transcribed

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 decimal places, e.g. 5,125.) LIFO FIFO AVERAGE-COST The ending inventory $ $ $ $ $ The cost of goods sold $ $ $ $ Gross profit $ $ $

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