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

Date		Description		Units		Unit Cost or Selling Price
Oct. 1		Beginning inventory		60		$24
Oct. 9		Purchase		120		26
Oct. 11		Sale		100		35
Oct. 17		Purchase		100		27
Oct. 22		Sale		60		40
Oct. 25		Purchase		70		29
Oct. 29		Sale		110		40

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Your answer is incorrect.

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

Weighted-average cost per unit

$enter weighted-average cost per unit in dollars

eTextbook and Media

List of Accounts

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Your answer is incorrect.

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		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
The cost of goods sold		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Gross profit		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount

eTextbook and Media

List of Accounts

Incorrect answer icon

Your answer is incorrect.

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		enter a gross profit rate in percentages rounded to 1 decimal place	%		enter a gross profit rate in percentages rounded to 1 decimal place	%		enter a gross profit rate in percentages rounded to 1 decimal place	%