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Instead of just giving a grid would you please provide an explanation for the answers as well as how you got them? Problem 6-08A a1-a2

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Instead of just giving a grid would you please provide an explanation for the answers as well as how you got them?

Problem 6-08A a1-a2 Sunland Company is a retailer operating in Calgary, Alberta. Sunland 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 Sunland for the month of January 2022. Unit Cost or Selling Price Date Dec. 31 Jan. 2 Description Ending inventory Quantity 150 100 $18 Purchase 20 Jan. 6 Sale 160 37 Purchase 70 22 50 42 Jan. 9 Jan. 10 Jan. 23 Jan. 30 Sale Purchase Sale 110 26 140 46 Your answer is correct. Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.) Jan. 1 18 Jan. 2 18.8 Jan. 6 18.8 Jan. 9 20.2 Jan. 10 20.2 Jan. 23 - 23.1| Jan. 30 23.1 x Your answer is incorrect. Try again. 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. LIFO FIFO Moving-average Cost of goods sold Ending inventory Gross profit Click if you would like to Show Work for this question: Open Show Work

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