You have the following information for McBride Inc. for the month ended October 31, 2012. McBride uses a 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. (Round cost per unit to three decimal places.)(b) Compare results for the three cost flowassumptions.

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Unit Cost or Selling Price $24 26 35 27 Date Oct. 1 Oct. 9 Oct. 11 Oct. 17 Description Beginning inventory Purchase Units 60 60 120 Sale 100 Purchase 100 Oct. 22 Oct. 25 Oct. 29 Sale 60 70 29 Purchase Sale 110 110