(a2)

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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

1.Cost of goods sold

LIFO:

h Hulu | Home x a Amazon.com: Prime Video: Prime X B Unit 10 Lab Assignment - AC114 x [ WileyPLUS * *Search Results | Course Hero x |and New tab * H The Easiest Way to Take a Screen x + X A https://edugen.wileyplus.com/edugen/Iti/main.uni ABP . . . WileyPLUS Weygandt, Accounting Principles, 13e Help | System Announcements CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT RESOURCES Unit 10 Lab Assignment Problem 6-08A a1-a2 (Part Level Submission) 114 Swifty Inc. is a retailer operating in British Columbia. Swifty 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 Brief Exercise 6-08 settled in cash. You are provided with the following information for Swifty Inc. for the month of January 2020. Brief Exercise 6-10 a-c (Part Level Submission) Unit Cost or Brief Exercise 6-11 Date Description Quantity Selling Price Exercise 6-12 Exercise 6-13 January 1 Beginning inventory 100 $17 Problem 6-08A a1-a2 January 5 Purchase 144 20 Part Level Submit January 8 Sale 109 29 Problem 6-09A a1-a2, b (Part Level Submission) January 10 Sale return 10 29 January 15 Purchase 55 22 Review Score Review Results by Study January 16 Purchase return 5 22 Objective January 20 Sale 95 33 January 25 Purchase 22 24 (a1) Your answer is correct. 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 unit January 1 January 5 18.7 January 8 18.77 January 10 18.770 January 15 19.659 January 16 19.599 January 20 19.599 January 25 20.392 Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER Type here to search O NAB (@ w 2:51 PM 10/28/2020