en.wileyplus.com/edugen/student/mainfr.uniYouTube MapsHWelcome, Joseph-..New TabKimmel, Accounting, 7eAssignment GradebookORIONDownloadable eTextbookcenentProblem 6-05A a1-a3You have the following information for Marigold Corp. for the month ended October 31, 2022. Marigold uses a periodic method for inventory.Unit Cost or Selling Price$26UnitsDescriptionBeginning inventoryDateOct. 155Oct. 9Purchase1402845Oct. 11Sale100Purchase10029Oct. 17Oct. 22Sale5550Oct. 25Purchase653111050Oct. 29SaleCalculate the weighted-average cost. (Round ansver to 3 decimal places, e.g. 5.125.)Weighted-average cost per unitCalculate ending inventory, cost of goods sold, gross profit under each of the following methods.(1) LIFO.(2) FIFO.(3) Average-cost. (Round ansvers to 0 decimal place, e.g. 125.)LIFOFIFOAVERAGE-COSTThe ending inventoryEmas Policy2.2000-2021 lchr. ilgy.& Seng Jos, All Rights Reserved A Oivon of JahnN ASan InLType here to searchhpfsf6fg14412?&%24 TubeKimmel, Accounting, 7essignmentORIONDownloadable eTextbookGradebookriruAVENAGCLUDILurune ending inventory$4he cost of goods soldGross profit%24Calculate 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%)FIFOAVERAGE-COSTLIFOGross profit rateClick if you would like to Show Work for this question: Open Show WorkBy accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructorJahd Hois os.as Bolicy22000-2021 Jchn Wiley Sens Jns A Rights ReserDe here to searchhpd

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Description: en.wileyplus.com/edugen/student/mainfr.uniYouTube MapsHWelcome, Joseph-..New TabKimmel, Accounting, 7eAssignment GradebookORIONDownloadable eTextbookcenentProblem 6-05A a1-a3You have the following information for Marigold Corp. for the month ended O

Solution: Introduction: Inventory Valuation Methods are generally used to determine the Cost of…

Business

Accounting

Problem 6-0SA a1-a3 You have the following information for Marigold Corp. for the month ended October 31, 2022. Marigold uses a periodic method for inventory. Description Units Unit Cost or Selling Price Date Oct. 1 Beginning inventory 55 $26 Oct. 9 Purchase 140 28 Oct. 11 Sale 100 45 Oct. 17 Purchase 100 29 Sale 55 50 Oct. 22 Purchase 65 31 Oct. 25 Oct. 29 Sale 110 50 Calculate the wweighted-average cost. (Round ansver to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit Calculate ending inventory, cost of goods sold, gross profit under each of the follovring methods.

Problem 6-0SA a1-a3 You have the following information for Marigold Corp. for the month ended October 31, 2022. Marigold uses a periodic method for inventory. Description Units Unit Cost or Selling Price Date Oct. 1 Beginning inventory 55 $26 Oct. 9 Purchase 140 28 Oct. 11 Sale 100 45 Oct. 17 Purchase 100 29 Sale 55 50 Oct. 22 Purchase 65 31 Oct. 25 Oct. 29 Sale 110 50 Calculate the wweighted-average cost. (Round ansver to 3 decimal places, e.g. 5.125.) Weighted-average cost per unit Calculate ending inventory, cost of goods sold, gross profit under each of the follovring methods.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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