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Problem 6-5A (Part Level Submission) You are provided with the following information for Najera Inc. for the...

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Accounting

Problem 6-5A (Part Level Submission)

You are provided with the following information for Najera Inc.for the month ended June 30, 2017. Najera uses the periodic methodfor inventory.

Date

Description

Quantity

Unit Cost or
Selling Price

June1Beginning inventory40$40
June4Purchase13544
June10Sale11070
June11Sale return1570
June18Purchase5546
June18Purchase return1046
June25Sale6575
June28Purchase30

50

Calculate gross profit rate under each of the following methods.(1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to1 decimal place, e.g. 51.2%.)

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