Mercer Inc. is a retailer operating in British Columbia. Mercer 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 Mercer Inc. for the month of January 2014

Date			Description		Quantity		Unit Cost or Selling Price
January	1		Beginning inventory		200		$12
January	5		Purchase		280		15
January	8		Sale		220		24
January	10		Sale return		20		24
January	15		Purchase		110		16
January	16		Purchase return		10		16
January	20		Sale		180		29
January	25		Purchase		40		19

Calculate the Moving-average cost per unit at January 1, 5, 8, 15, 20, & 25.

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.