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You have the following information for Vincent Inc. for the month ended October 31, 2014. Vincent uses a periodic method for inventory. Date Description Units

You have the following information for Vincent Inc. for the month ended October 31, 2014. Vincent uses a periodic method for inventory.

Date Description Units Unit Cost or Selling Price
Oct. 1 Beginning Inventory 60 $24
Oct. 9 Purchase 121 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

(Part A - already done!)The weighted average cost per unit is $26.541

(Part B) 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 $ $ $

(Part C) 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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