0725 Current Attempt in Progress You have the following information for Vaughinc for the month d June 30, 2022. Vaughnutes a periodic inventory system Date Description Unit Cost or Selling Price June Quantity 40 1 Beginning inventory Purchase 541 June 4 135 44 June 10 Sale 110 71 June 11 15 71 Sale return Purchase June 18 55 June 18 Purchase return 10 47 June 25 Sale 65 June 28 Purchase 35 51 100 Question 2 of 2 0/25 III Calculate ending inventory.cost of goods sold. gross profit under each of the following methods. (1) LIFO (2) FIFO (3) Average cost. (Round average cost method answers to 2 decimal places, es 1.250 25 an her answers to decimal places, es 1.250) LIFO FIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ Gross proht $ $ $ e Textbook and Media Assistance Used Save for later Attempts: 0 of 2 used Submit Answer (a3) C121 M3COMP PROBLEM Question 2 of 2 0/25 (3) Calculate gross profit rate under each of the following methods. (1) LIFO (2) FIFO (3) Average cost. (Round answers to 1 decimal place, 512X) LIFO FIFO AVERAGE-COST Gross profit rate % e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Anna (b) (b) Compare results for the three cost flow assumptions and answer the following questions In this period of rising prices gives the highest cost of goods sold and the gives the lowest cost of goods sold and the gross profit gross profit e Textbook and Media Save for Later Attempts: 0 of 2 used Submit Answer D