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You have the following information for Wildhorse Inc. for the month ended October 31, 2022. Wildhorse uses a periodic method for inventory. Date Description Units
You have the following information for Wildhorse Inc. 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 55 $ 26 Oct. 9 Purchase 121 28 Oct. 11 Sale 107 36 Oct. 17 Purchase 109 29 Oct. 22 Sale 62 41 Oct. 25 Purchase 67 31 Oct. 29 Sale 112 41 Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.
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