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

You have the following information for Sunland Inc. for the month ended October 31, 2022. Sunland uses a periodic method for inventory.

Date

Description

Units

Unit Cost or Selling Price

Oct. 1

Beginning inventory

58 $25

Oct. 9

Purchase

116 27

Oct. 11

Sale

104 37

Oct. 17

Purchase

98 28

Oct. 22

Sale

57 42

Oct. 25

Purchase

69 30

Oct. 29

Sale

104 42

(a1)

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Your answer is correct.

Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)

Weighted-average cost per unit

$enter a dollar amount of the Weighted-average cost per unit rounded to 3 decimal places

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List of Accounts

Attempts: 1 of 3 used

(a2)

New attempt is in progress. Some of the new entries may impact the last attempt grading.

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 per unit cost to 3 decimal places, e.g. 15.647 and final answers to 0 decimal places, e.g. 5,125.)

LIFO

FIFO

AVERAGE-COST

The ending inventory

$enter the ending inventory amount as per LIFO in dollars $enter the ending inventory amount as per FIFO in dollars $enter the ending inventory amount as per Average-cost in dollars

The cost of goods sold

$enter the cost of goods sold amount as per LIFO in dollars $enter the cost of goods sold amount as per FIFO in dollars $enter the cost of goods sold amount as per Average-cost in dollars

Gross profit

$enter the gross profit amount as per LIFO in dollars $enter the gross profit amount as per FIFO in dollars $enter the gross profit amount as per Average-cost in dollars

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