Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. you have the following information for bonita indu

You have the following information for Bonita Industries for the month ended October 31, 2022....

50.1K

Verified Solution

Question

Accounting

You have the following information for Bonita Industries for the month ended October 31, 2022. Bonita uses a periodic method for inventory.

- Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.)

- 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 0 decimal place, e.g. 125.)

- Calculate gross profit rate under each of the following methods.

  1. LIFO.
  2. FIFO.
  3. Average-cost. (Round answers to 1 decimal place, e.g. 51.2%)
image
You have the following information for Bonita industries for the monthended October 31,2022 . Eonita uses a periodic method for inventory. Calculate the weighted-average cost. (Round anawer to 3 decimal ploces. eg. 5.125) Weighted-average cost per unit Calculate ending inventory, cost of poods sold, aress profit under each of the following methods. (1) LIFO (2) FIFO (3) Average-cost. (Round answers to Odecimal place, ef 125)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students