+ AC114 Unit 10 Lab Assignment Question 6 of 7 6.67/10 Current Attempt in Progress Crane Inc is a retailer operating in British Columbia Crane uses the perpetua inventory system. Al 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 Crane Inc. for the month of January 2012 Date Quantity Description Beginning inventory Purchase Unit Coster Selling Price $12 January 1 100 January 5 137 15 January 8 Sale 112 23 January 10 Sale return 10 23 January 15 Purchase 55 17 January 16 Purchase return 5 17 January 20 Sale 85 Purchase January 25 17 19 10 Lab Assignment Question 6 of 7 > 6.67/10 E 1 Your answer is partially correct. For each of the following cost flow assumptions. calculate cost of goods sold, ending inventory, and gross proft: (1) LIFO (2) FIFO (3) Moving average cost. (Round average cost per unit to 3 decimal places, s. 12.502 and final answer to decimal places, es 1.250) LIFO FIFO Moving average Cost of goods sold $ 2905 2535 s 2648.30 Ending inventory $ 1523 Gross profit $ 1736 2106 3393:20 e Textbook and Media Sane for Later Attempts: 2 of 5 used Submit