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Indigo Corporation is a retailer operabng in Calgary, Alberta. Indigo Corporation for the month af lanuary 2017 uses the perpetual inventory method. Assume that there
Indigo Corporation is a retailer operabng in Calgary, Alberta. Indigo Corporation for the month af lanuary 2017 uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the folowing information for Indigo Date Dec. 31 Endng inventory an. 2 Purchase lan. 6Sale lan. g purchas an 10 Sala a. 23 Purchase Quantity Unit Cost or Selling Price $20 104 e0 25 30 Sale 123 45 Calculate average cost tor each unt. (Round answers to 3 decimal places, e.g. 5.125.) an. 1 Jan. 2 an, 6 Jan. 9 an. 10 Jan. 23 an. 30 20.78 20.78 LTST OF ACOOUNTS kr each af the followinq cost flow assumptions, calculate ) oast of goods sold, (i) endnq Inventory, and ) qross profit. (Round answers to O decimal places eq 12.5.) (1 LIFO (2) FIFO (3) Moving-average. LIFO Moving-average Cost of gonds sold Ending inventary Gross prafit
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