ILUS Assignment 3 Chapter e Question 5 of 6 View Policies Current Attempt in Progress - 10 Culver Inc. is trying to determine whether to use the FIFO or average cost formula. The accounting records show the following selected inventory information Purchases Cost of Goods Sold Date Units Ending Inventory Cost Total Units Cost Oct 2 Total Units 7,800 Cost Total $13 $101.400 7.800 $13 15 13.000 $101.400 15 195,000 111 [2] 13) 15) 29 20.600 16! 177 [8] 191 110) 111) 112) 113) The company accountant has prepared the following partial statement of income to help management understand the financial statement impact of each cost determination cost formula Type here to search o RE QOBU Question 4 of 6 3.33/10 TI e Textbook and Media Solution Attempts: 3 of 3 used (b) Calculate Swifty Furniture's gross profit and gross profit margin for the month of June (Round gross profit margin to 1 decimal place. es 15.1 and gross profit to the nearest whole dollar, es. 1525.) Gross profit s Gross profit margin % e Textbook and Media do ING e here to search DOLL