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I have gotten everything right besides the gross profit amounts! Oriole Inc. is a retailer operating in Calgary. Alberta. Oriole uses the perpetual inventory system.
I have gotten everything right besides the gross profit amounts!
Oriole Inc. is a retailer operating in Calgary. Alberta. Oriole uses the perpetual inventory system. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Oriole for the month of January 2025. Calculate weighted-average unit cost. (Round answers to 3 decimal places, e.g. 5.125.) For each of the following cost flow assumptions, calculate (i) 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 Step by Step Solution
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