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Metlock, Inc. is a retailer operating in Calgary, Alberta, Metlock, Inc., uses the perpetual inventory method. Assume that there are no credit transactions, all amounts

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Metlock, Inc. is a retailer operating in Calgary, Alberta, Metlock, Inc., 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, Inc. for the month of January 2017 Quantity 159 Unit Cost or Selling Price $18 109 Date Dec. 31 Jan. 2 Jan. 6 Jan. 9 Jan. 10 Jan. 23 Jan. 30 Description Ending inventory Purchase Sale Purchase Sale Purchase Sale 192 78 52 20 42 22 47 97 23 124 50 Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.) Jan. 1 $ Jan. 2 $ Jan. 6 $ $ Jan. 9 $ Jan. 10 $ $ Jan. 23 $ Jan. 30 $ For each of the following cost flow assumptions, calculate (i) cost of goods sold. (ii) ending inventory, and (ii) gross profit. (Round answers to 0 decimal places, eg. 125.) (1) (2) (3) LIFO. FIFO. Moving average LIFO FIFO Moving average $ $ Cost of goods sold $ Ending inventory $ $ $ Gross profit

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