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You have the following information for Sheridan Company for the month ended October 31, 2017. Sheridan Company uses a periodic method for inventory Units 59
You have the following information for Sheridan Company for the month ended October 31, 2017. Sheridan Company uses a periodic method for inventory Units 59 113 103 103 56 75 102 Unit Cost or Selling Price Date Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 Description Beginning inventory Purchase Sale Purchase Sale Purchase Sale $26 28 35 29 31 Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit SHOW LIST OF ACCOUNTS LINK TO TEXT VIDEO: SIMILAR PROBLEM 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 0 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, eg. 51.2%) LIFO FIFO AVERAGE-COST Gross profit rate
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