6-8A

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.

Date	Description	Quantity	Unit Cost or Selling Price
January	1	Beginning inventory	100	$13
January	5	Purchase	139	16
January	8	Sale	111	27
January	10	Sale return	10	27
January	15	Purchase	55	18
January	16	Purchase return	5	18
January	20	Sale	88	31
January	25	Purchase	18	20