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Lily Inc. is a retailer operating in British Columbia. Lily uses the perpetual inventory system. All sales returns from customers result in the goods being

image text in transcribedimage text in transcribedimage text in transcribed Lily Inc. is a retailer operating in British Columbia. Lily uses the perpetual inventory system. 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 Lily Inc. for the month of January 2022. Calculate the Moving-average cost per unit at January 1,5,8,10,15,16,20,&25. (Round moving-average cost per unit answers to 3 decimal places, e.g. 5.251.) 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 answer to 0 decimal places, e.g. 1,250.)

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