Marigold Corp. is a retailer operating in Calgary, Alberta. Marigold 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 Marigold for the month of January 2022.

Date

Description

Quantity

Unit Cost or Selling Price

Dec. 31-Ending inventory-150@$22 per

Jan. 2-Purchase-100@$23 per

Jan. 6-Sale-175@$40 per

Jan. 9-Purchase-75@$24 per

Jan. 10-Sale-55@$46 per

Jan. 23-Purchase-95@$26 per

Jan. 30-Sale-140@$49 per

Calculate average cost for each unit.(Round answers to 3 decimal places, e.g. 5.125.)

Jan. 1

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Jan. 2

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Jan. 6

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Jan. 9

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Jan. 10

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Jan. 23

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Jan. 30

$enter a dollar amount

SHOW LIST OF ACCOUNTS

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

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount

Ending inventory

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$enter a dollar amount

$enter a dollar amount

Gross profit

$enter a dollar amount

$enter a dollar amount

$enter a dollar amount