Question: Hey everyone, I could use some help understanding how to find the LIFO, FIFO, and the Average-Cost. The corrected answer for the Average-Cost Per Unit

Hey everyone, I could use some help understanding how to find the LIFO, FIFO, and the Average-Cost. The corrected answer for the Average-Cost Per Unit is included, but please explain how to get that. Thank you for any help provided to help me understand how to work this!

Hey everyone, I could use some help understanding how to find theLIFO, FIFO, and the Average-Cost. The corrected answer for the Average-Cost Per

You have the following information for Waterway Inc. for the month ended June 30, 2022. Waterway uses a periodic inventory system. Unit Cost or Selling Price Date Description Quantity June 1 Beginning inventory 40 $51 June 4. Purchase 135 54 June 10 Sale 110 81 June 11 Sale return 15 81 June 18 Purchase 55 57 June 18 Purchase return 10 57 . June 25 Sale 65 87 June 28 Purchase 35 61 (a1) Your Answer Correct Answer (Used) Calculate cost per unit. (Round answer to 2 decimal places, eg. 5.25.) Weighted average cost per unit $ 55.02 (a2) 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, e.g. 1,250.25 and other answers to decimal places, eg. 1,250.) LIFO FIFO AVERAGE-COST The ending inventory CA $ $ $ A The cost of goods sold $ $ $ Gross profit $ $ $ e Textbook and Media Assistance Used e Textbook Attempts: 0 of 3 used Submit Answer Save for Later Last saved 1 second ago. Saved work will be auto-submitted on the due date. Auto- submission can take up to 10 minutes

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