Dempsey Inc. is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Dempsey Inc. for the month of January 2017.

Instructions
(a) For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit.
(1) LIFO.
(2) FIFO.
(3) Moving-average cost. (Round cost per unit to three decimal places.)
(b) Compare results for the three cost flowassumptions.

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Quantity 100 140 110 10 Unit Cost or Selling Price S15 18 28 28 20 20 32 Date Description January 5 January 8 January 10 January 15 January 16 January 20 January 25 Beginning inventor;y Purchase Sale Sale return Purchase Purchase return Sale Purchase 90 20