Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3)...
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Accounting
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%)
Problem 6-5A You have the following information for Windsor, Inc. for the month ended October 31, 2017. Windsor, Inc. uses a periodic method for inventory Description Units 56 122 90 108 Unit Cost or Selling Price Date Oct. 1 Beginning inventory Oct. 9 Purchase Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale $23 25 26 39 28 39 67 113 Your answer is correct. Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit 25.558
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