Question

# You are provided with the following information for Sheridan Inc. for the month ended June 30,...

You are provided with the following information for Sheridan Inc. for the month ended June 30, 2019. Sheridan uses the periodic system for inventory.

 Date Description 41 \$41 137 45 108 73 17 73 55 47 12 47 66 78 32 51

Calculate weighted-average cost per unit. (Round answer to 2 decimal places, e.g. 5.25.)

 Weighted-average cost per unit \$enter Weighted-average cost per unit in dollars rounded to 2 decimal places

(a2)

Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.)

 LIFO FIFO AVERAGE-COST \$enter a dollar amount rounded to 0 decimal places \$enter a dollar amount rounded to 0 decimal places \$enter a dollar amount rounded to 2 decimal places \$enter a dollar amount rounded to 0 decimal places \$enter a dollar amount rounded to 0 decimal places \$enter a dollar amount rounded to 2 decimal places \$enter a dollar amount rounded to 0 decimal places \$enter a dollar amount rounded to 0 decimal places \$enter a dollar amount rounded to 2 decimal places

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