You have the following information for Sheridan Inc. for the month ended June 30, 2022. Sheridan uses a periodic inventory system. Unit Cost or Date Description Quantity Selling Price June 1 Beginning inventory 40 $46 June 4 Purchase 135 49 June 10 Sale 110 76 June 11 Sale return 15 76 June 18 Purchase 55 52 June 18 Purchase return 10 52 June 25 Sale 65 82 June 28 Purchase 35 55 99 56 AVERAGE-COST A 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 O decimal places, e.g. 1,250.) The ending inventory LIFO The cost of goods sold $ Gross profit A A A FIFO +A A +A 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%.) Gross profit rate LIFO % FIFO % AVERAGE-COST % Compare results for the three cost flow assumptions and answer the following questions. In this period of rising prices, gives the lowest cost of goods sold and the gives the highest cost of goods sold and the gross profit. gross profit