You have the following information for Wildhorse Co. for the month ended October 31, 2017. Wildhorse Co. 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

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

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

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

%