Heres my questions.

Q1. Yuan Li Ltd. is a retailer. 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 Yuan Li Ltd. for the month of June 2017. Date June 1 June 5 June 8 June 10 June 15 June 16 June 20 June 25 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Quantity 100 150 110 10 55 5 80 30 Unit Cost or Selling price 14 17 28 28 19 19 32 22 Instructions (a) Assume that Yuan Li Ltd. Uses the perpetual inventory system. For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) cost of ending inventory, and (iii) gross profit. (1) FIFO (2) LIFO (3) Average cost method (b) Assume that Yuan Li Ltd. Uses the periodic inventory system. For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) cost of ending inventory, and (iii) gross profit. (1) FIFO (2) LIFO (3) Average cost method (c) Compare results for the three cost flow assumptions under each of the different inventory system