_{Now I'm extremely confused with how to compute LIFO and FIFO and Gross Profit. The answer will only count if you can explain step by step how to get the numbers and PLEASE clearly write out the equations and label them}

Novak Inc. is a retailer operating in British Columbia. Novak 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 Novak Inc. for the month of January 2020. Unit Cost or Selling Price Date Description Beginning inventory Purchase Quantity 155 1 $12 15 5 217 8 Sale 171 25 10 Sale return 16 25 January January January January January January January January 15 85 17 Purchase Purchase return 16 8 17 20 Sale 140 29 25 Purchase 31 19 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. (Round average-cost per unit to 3 decimal places, e.g. 12.502 and final answers to O decimal places, e.g. 1,250.) LIFO FIFO Moving-average Cost of goods sold $ $ $ Ending inventory $ $ $ Gross profit $ $ $