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gross pro P6-5A You have the following information for Van Gogh Inc. for the month ended Octo- ber 31, 2017. Van Gogh uses a periodic method for inventory. Date Description Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 Beginning inventory Purchase Sale Purchase Sale Purchase Sale Units 60 120 100 100 60 70 110 Unit Cost or Selling Price $24 26 35 27 40 29 40 (2) FIFO. (3) Average-cost. (Round cost per unit to three decimal places.) (b) Compare results for the three cost flow assumptions. Calculate ending inventory, cost of goods sold, gross profit, and gross profit rate under periodic method; compare results. (LO 2), AP Instructions (a) Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit, and (iv) gross (a) Gross profit: LIFO profit rate under each of the following methods. (1) LIFO. FIFO Average $2,970 $3,310 $3,133