You have the following information for Waterway Industries for the month ended October 31, 2022. Waterway uses a periodic method for inventory. Date   Description   Units   Unit Cost or Selling Price Oct. 1   Beginning inventory   70   $26 Oct. 9   Purchase   125   28 Oct. 11   Sale   95   40 Oct. 17   Purchase   95   29 Oct. 22   Sale   70   45 Oct. 25   Purchase   80   31 Oct. 29   Sale   105   45   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.)     LIFO   FIFO   AVERAGE-COST The ending inventory   $   $   $ The cost of goods sold   $   $   $  Gross profit   $   $   $   *** JUST SHOW ME HOW TO DO AVERAGE COST****

You have the following information for Bramble Inc. for the month ended October 31, 2022. Bramble uses a periodic method for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory 54 $23 Oct. 9 Purchase 132 25 Oct. 11 Sale 108 34 Oct. 17 Purchase 103 26 Oct. 22 Sale 55 39 Oct. 25 Purchase 65 28 Oct. 29 Sale 121 39

Use this inventory information for the month of March to answer the following questions. Assuming that a periodic inventory system is used, what is ending inventory (rounded) under theaverage-cost method? What is cost of goods sold on a FIFO basis? What is ending inventory under the LIFO method?

At the end of January of the current year, the records of Donner Company showed the following for a particular item that sold at $15.20 per unit: Transactions Units Inventory, January 1 560 Amount $1,792 Purchase, January 12 540 Purchase, January 26 140 2,808 1,008 Sale Sale (420) (200) Required: 1a. Assuming the use of a periodic inventory system, compute Cost of Goods Sold under each method of inventory: average cost, FIFO, LIFO, and specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. 1b. Assuming the use of a periodic inventory system, prepare a partial income statement under each method of inventory: (a) average cost, (b) FIFO, (c) LIFO, and (d) specific identification. For specific identification, assume that the first sale was selected from the beginning inventory and the second sale was selected from the January 12 purchase. 2a. Between FIFO and…