Ch 6 W23 Q1 Sales returns: subtract-in COGS section. Purchase returns: - in purchase section. QLCNRV individual bas Question 1 of 4 View Polic < > 0/31 Show Attempt History Current Attempt in Prog Pina Inc. is a retailer using a perpetual inventory system. All sales returns from customers result in the goods being returned to Inventory (Aume that the inventory is not damaged) Assume that there are no credit transactions; all amounts are wetted in cash You are provided with the following information for Pins Inc. for the month of January Unit Cost of Date Description Quantity Selling Price Dec 31 Jan 2 Beginning inventory Purcha 160 $20 100 22 Jan. 6 Sale 160 39 Jan. 9 Sale return 10 39 Jan. 9 Purchase 75 25 Jan. 10 Purchase return 15 25 Inn 10 Sale 50 47 Jan 23 Purchase 100 26 Jan. 30 Sale 120 51 (a) *Your writ Using FIFO math calculate (i) cont of goods sold, (i) ending inventory, and (ii) grans profit. (Assume sales return hd of $20 and purchase return had a cont of $25) Cost of goods sold $ 20950 Ending Inventory $ 3010 Gross Profit 15:20 Textbook and Media eTextbook 1 elextbook 2 Save for Later Assistance Used Attempts: 3 of 15 used Submi (b) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above.