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Blue Spruce Corp. is a retailer operating in Calgary, Alberta Blue Spruce Corp. uses the perpetual inventory method. Assume that there are no credit transactions;

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Blue Spruce Corp. is a retailer operating in Calgary, Alberta Blue Spruce Corp. 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 Blue Spruce Corp. for the month of January 2017 Date Description Quantity Unit Cost or Selling Price Dec. 31 Ending inventory 149 $20 Jan. 2 Purchase 96 22 Jan. 6 Sale 175 39 Jan. 9 Purchase 72 24 Jan. 10 Sale 49 44 Jan 23 Purchase 99 25 Jan. 30 Sale 142 47 For each of the following cost flow assumptions, calculate (1) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (Round answers to 0 decimal places, e.g. 125.) (1) LIFO. (2) FIFO. (3) Moving average LIFO FIFO Moving average Cost of goods sold $ 8045 8195 S Ending inventory $ 1250 $ 1100 $ Gross pront 7610 $ 7460

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