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Metlock, Inc. is a retailer operating in Calgary, Alberta. Metlock uses the perpetual inventory method. Assume that there are no credit transactions; all amounts
Metlock, Inc. is a retailer operating in Calgary, Alberta. Metlock 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 Metlock for the month of January 2022. Date Dec. 31 Description Ending inventory Quantity 160 Unit Cost or Selling Price $20 Jan. 2 Purchase 96 22 Jan. 6 Sale 180. 39 Jan. 9 Purchase 76 24 Jan. 10 Sale 56 45 Jan. 23 Purchase 114 25 Jan. 30 Sale 140 48
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