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You have the following information for Splish Brothers Inc. for the month ended October 31, 2022. Splish Brothers uses a periodic method for inventory. Date
You have the following information for Splish Brothers Inc. for the month ended October 31, 2022. Splish Brothers uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 55 $26 Oct. 9 Purchase 140 28 Oct. 11 Sale 90 45 Oct. 17 Purchase 90 29 Oct. 22 Sale 55 50 Oct. 25 Purchase 65 31 Oct. 29 Sale 100 50 Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit $ SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT 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 $ $ SHOW LIST OF ACCOUNTS SHOW SOLUTION LINK TO TEXT 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%) LIFO FIFO AVERAGE-COST Gross profit rate % %
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