Question
You have the following information for Wildhorse Co. for the month ended October 31, 2022. Wildhorse uses a periodic method for inventory. Date Description
You have the following information for Wildhorse Co. for the month ended October 31, 2022. Wildhorse uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 65 $22 Oct. 9 Purchase 130 24 Oct. 11 Sale 95 45 Oct. 17 Purchase 95 25 Oct. 22 Sale 65 50 Oct. 25 Purchase 75 27 Oct. 29 Sale 105 50 Calculate the weighted-average cost. (Round answer to 3 decimal places, eg 5.125) Weighted average cost per unit $ 24521 eTextbook and Media List of Accounts 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 O decimal place, e.g. 125.) The ending inventory The cost of goods sold Gross profit S eTextbook and Media List of Accounts LIFO 2510 S S FIFO AVERAGE-COST $ 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%) Gross profit rate eTextbook and Media List of Accounts LIFO % FIFO 96 AVERAGE-COST 96
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