Kingbird Inc. is a retailer operating in British Columbia. Kingbird uses the perpetual inventory method. 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 Kingbird Inc. for the month of January 2020.

need help with how to find the moving average cost

Kingbird Inc. is a retailer operating in British Columbia. Kingbird uses the perpetual inventory method. 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 Kingbird Inc. for the month of January 2020. Unit Cost or Selling Price $15 Quantity 135 189 149 Date January January January January January January January January Description 1 Beginning inventory 5 Purchase 8 Sale 10 Sale return 15 Purchase 16 Purchase return 20 Sale 25 Purchase 14 74 7 122 Calculate the Moving-average cost per unit at January 1,5, 8, 10, 15, 16, 20, & 25. (Round answers to 3 decimal places, e.g. 5.252.) Moving-Average Cost per unit $ R 15 January 1 January 5 $ 16.75 January 8 $ 16.75 January 10 $ 16.75 January 15 $ 17.665 January 16 $ 17.602 January 20 $ 17.602 January 25 $ 18.342 For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO.(2) FIFO.(3) Moving-average cost. (Round average-cost per unit to 3 decimal places, e.g. 12.502 and final answers to 0 decimal places, e.g. 1,250.) LIFO FIFO Moving-average Cost of goods sold $ ___ 4742 | $ 4221 | | 4408 Ending inventory $ 2619 3140 th 2953 Gross profit 2942 3463 3276 e Textbook and Media Solution Assistance Used