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1. Calculate the Moving-Average cost per unit at January 1,5,8,10,15,16,20 & 25. 2. For each of the following cost flow assumptions, calculate cost of goods

1. Calculate the Moving-Average cost per unit at January 1,5,8,10,15,16,20 & 25.
2. For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO. (2) FIFO. (3) Moving-Average cost. image text in transcribed
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Oriole Inc. is a retailer operating in British Columbia. Oriole 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 Oriole Inc. for the month of January 2020. Unit Cost or Selling Price Description Quantity 100 143 112 10 Date January 1 Beginning inventory January 5 Purchase January 8 Sale January 10 Sale return January 15 Purchase January 16 Purchase returrn January 20 Sale January 25 Purchase $15 18 28 28 20 20 91 20 calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round answers to 3 decimal places, e.g. 5.251.) Moving-Average Cost per un it January 1 January 5 January 8 January 10 January 15 January 16 January 20 January 25 For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO. (2) FIFO. (3) Moving- average cost. (Round average-cost per unit to 3 decimal places, e.g. 12.502 and final answer to 0 decimal places, e.g. 1,250.) LIFO FIFO Moving-average Cost of goods sold Ending inventory Gross profit

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