Question: Problem 6-5A (Part Level Submission) You have the following information for Bonita Industries for the month ended October 31, 2017. Bonita Industries uses a periodic



Problem 6-5A (Part Level Submission) You have the following information for Bonita Industries for the month ended October 31, 2017. Bonita Industries uses a periodic method for inventory Date Oct. 1 Beginning inventory Oct. 9 Purchase Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale Description Units 63 Unit Cost or Selling Price $24 26 37 27 100 103 63 68 110 29 (a1) Your answer is correct. Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit 26.516 Click if you would like to Show Work for this question: Open Show Work (a2) Collapse question part orrect. Try again. Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to O decimal place, e.g. 125.) LIFO ICH VERAGE-COST The ending inventory The cost of goods sold Gross profit Click if you would like to Show Work for this question: Open Show Work LIFO FIFO AVERAGE-COST Gross profit rate
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
