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Bramble Inc. is a retailer operating in British Columbia. Bramble uses the perpetual inventory system. All sales retums from customers result in the goods being
Bramble Inc. is a retailer operating in British Columbia. Bramble uses the perpetual inventory system. All sales retums from customers result in the goods being returned to inventory; the imventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Bramble Inc. for the month of January 2022. For each of the following cost flow assumptions, calculate cost of goods sold, ending irventory, 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 .)
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