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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 ithe goods being returned
Lily Inc is a retailer operating in British Columbia. Lily uses the perpetual inventory system. All sales returns from customers result ithe goods being returned to inventory: the inventory is not damaged. Assume that there are no credit transactions; all amounts aresettled in cash. You are provided with the following information for Lily Inc for the month of January 2027.DateDescriptionQuantityUnit Cost or Selling PriceJanuary 1Beginning inventory100$12January 5Purchase13515January 8Sale11023January 10Sale return1023January 15Purchase5517January 16Purchase return517January 20Sale8528January 25Purchase1719 Calculate the Moving-average cost per unit at January 1, 5, 8. 10, 15, 16, 20, & 25. (Round moving-average cost per unit answers todecimal places, e.g. 5.251.)Moving-Average Cost per unitJanuary 1LA12January 513.723January 813.723January 1013.723January 15January 16January 20January 25
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