The following information about Q, a stock item sold by Patel has been presented to you. October 1 b/d 100 units @ sh. 20 October 5 Sale 80 units @...

October 31

Sale

200 units @ sh. 29

           Required:

           Compute the cost of closing stock and the gross profit under each of the following cost flow assumptions.

a)     LIFO periodic

b)     LIFO perpetual

c) Weighted average perpetual.