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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
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 56 (a1) Your answer is correct. Calculate cost per unit. (Round answer to 2 decimal places, eg. 5.25) Weighted-average cost per unit $ 5002 (a2) Your answer is partially correct. 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, eg. 1,250.25 and other answers to O decimal places, e.g. 1,250) LIFO The ending inventory $ FIFO AVERAGE-COST 4,370 $ $ 4,751.86 The cost of goods sold $ 8,960 S 7.360 $ 8,003,14 Gross profit $ 3.590 10 5.190 $ 4.547 eTextbook and Media Save for Later Last saved 19 minutes ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes Attempts: 2 of 3 used Submit Answer (a3) The parts of this question must be completed in order. This part will be available when you complete the part above
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