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You have the following information for Splish Brothers Inc. for the month ended October 31,...

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Accounting

You have the following information for Splish Brothers Inc. for the month ended October 31, 2017.

Splish Brothers Inc. uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price

Oct. 1 Beginning inventory UNITS 62 FOR $23

Oct. 9 Purchase UNITS 118 FOR $ 25

Oct. 11 Sale UNITS 109 FOR $ 33

Oct. 17 Purchase UNITS 103 FOR $ 26

26 Oct. 22 Sale UNITS 61 FOR $38

Oct. 25 Purchase UNITS 65 FOR $ 28

Oct. 29 Sale UNITS 100 FOR $ 38

Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.

Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.

Gross profit rate for LIFO FIFO AVERAGE COST

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