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Indigo Corporation is a retailer operating in Calgary, Alberta. Indigo Corporation uses the perpetual inventory method. Assume that there are no credit transactions; all amounts
Indigo Corporation is a retailer operating in Calgary, Alberta. Indigo Corporation uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Indigo Corporation for the month of January 2017.
Date | Description | Quantity | Unit Cost or Selling Price | |||
Dec. 31 | Ending inventory | 163 | $20 | |||
Jan. 2 | Purchase | 104 | 22 | |||
Jan. 6 | Sale | 185 | 37 | |||
Jan. 9 | Purchase | 70 | 24 | |||
Jan. 10 | Sale | 54 | 42 | |||
Jan. 23 | Purchase | 90 | 25 | |||
Jan. 30 | Sale | 123 | 45 |
I just need the 3 moving averages at the end! Thank you
Your answer is correct. Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.) Jan. 1 20 $ Jan. 2 20.78 $ Jan. 6 20.78 Jan. 9 22.26 Jan. 10 $ 22.26 Jan. 23 23.57 Jan. 30 $ 23.57 eTextbook and Media List of Accounts Your answer is partially correct. For each of the following cost flow assumptions, calculate () cost of goods sold, (ii) ending inventory, and (iii) gross profit. (Round answers to 0 decimal places, eg. 125.) (1) LIFO. (2) FIFO. (3) Moving-average. FIFO LIFO Moving-average $ Cost of goods sold 7853 5548 8178 $ Ending inventory 1300 1625 Gross profit 6470 6795 eTextbook and Media List of Accounts Attempts: 6 of 10 used Save for Later CheckStep by Step Solution
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