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Bieber Inc. is a retailer operating in Calgary, Alberta. Bieber uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are
Bieber Inc. is a retailer operating in Calgary, Alberta. Bieber 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 Bieber for the month of January 2022. Date Description Quantity Unit Cost or Selling Price Dec. 31 Ending inventory 160 $20 Jan. 2 Purchase 100 22 Jan. 6 Sale 180 40 Jan. 9 Purchase 75 24 Jan. 10 Sale 50 45 Jan. 23 Purchase 100 25 Jan. 30 Sale 130 48 (b) Compare results for the three cost flow assumptions. (LIFO, FIFO and Moving-average) B I U Tz T? TX III 2 99 T O Word(s)
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