You are provided with the following information for Koetteritz Inc. for the month ended June 30, 2017. Koetteritz uses the periodic method for inventory.

Instructions
(a) Calculate
(i) Ending inventory,
(ii) Cost of goods sold,
(iii) Gross profit, and
(iv) Gross profit rate under each of the following methods.
(1) LIFO.
(2) FIFO.
(3) Average-cost.
(b) Compare results for the three cost flowassumptions.

Unit Cost or Selling Price S40 43 70 70 46 46 76 50 Date Description Quantity 40 135 110 15 Beginning inventory une 4 June 10 June 11 June 18 June 18 June 25 June 28 Sale Sale return Purchase Purchase return Sale Purchase 65 35