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Coronado Inc. is a retailer operating in British Columbia Coronado uses the perpetual inventory system. All sales returns from customers result in the goods being
Coronado Inc. is a retailer operating in British Columbia Coronado uses the perpetual inventory system. All 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 Coronado Inc for the month of January 2022 Date Description Quantity Unit Cost or Selling Price January 1 100 $13 Beginning inventory Purchase January 5 149 16 January B Sale 115 29 January 10 Sale return 10 29 January 15 Purchase 55 19 January 16 Purchase return 5 19 January 20 Sale 94 33 January 25 Purchase 16 (al) Calculate the Moving average cost per unit at January 1,5,8,10,15,16, 20, 4. 25. (Round moving-average cost per unit answers to 3 decimal places.eg. 5.251) Moving Average Cost per unit January 1 $ January 5 S January S January 10 S January 15 S January 16 S January 20 S January 25 S e Textbook and Media Save for later Attempts: 0 of 5 used Submit Answer (a2) 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, eg 12.502 and final answer to decimal places, eg 1.250.) LIFO FIFO Moving average Cost of goods sold S S S Ending inventory S S S Gross profit S S $
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