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Nash's Trading Post, LLC is a retailer operating in Calgary, Alberta. Nash uses the perpetual inventory method. Assume that there are no credit transactions; all
Nash's Trading Post, LLC is a retailer operating in Calgary, Alberta. Nash 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 Nash for the month of January 2022. Date Description Quantity Unit Cost or Selling Price Dec. 31 Ending inventory 159 Jan. 2 Purchase Jan. 6 Sale Jan. 9 Purchase Jan. 10 Sale Jan. 23 Purchase Jan. 30 Sale Your answer is correct. Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.) Jan. 1 18 $ $ Jan. 2 19.954 19.954 0 Jan. 6 Jan. 9 $ 0 21.800 Jan. 10 21.800 0 Jan. 23 0 23.320 Jan. 30 0 23.320 x Youranswer is incorrect. For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (Round answers to O decimal places, e.g. 125.) (1) LIFO. (2) FIFO. (3) Moving-average. LIFO FIFO Moving-average 0 0 Cost of goods sold Ending inventory $ $ 0 0 A Gross profit 0 0
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