6-4

Shamrock, Inc. is a retailer operating in Calgary, Alberta. Shamrock, Inc. uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Shamrock, Inc. for the month of January 2022. Date Description Quantity Unit Cost or Selling Price Dec. 31 162 $19 Ending inventory Purchase Jan. 2 110 21 Jan. 6 Sale 178 38 Jan. 9 Purchase 82 23 Jan. 10 Sale 51 43 Jan. 23 Purchase 93 24 Jan. 30 Sale 132 46 Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.) Jan. 1 $ Jan. 2 $ Jan. 6 $ Jan. 9 $ Jan. 10 $ Jan. 23 $ Jan. 30 $ 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. LIFO FIFO Moving-average Cost of goods sold $ $ $ Ending inventory $ $ $ Gross profit $ $ $