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Oriole Company is a retailer operating in Calgary, Alberta. Oriole uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are
Oriole Company is a retailer operating in Calgary, Alberta. Oriole 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 Oriole for the month of January 2022. Date Description Quantity Unit Cost or Selling Price Dec. 31 Ending inventory 175 Jan. 2 Purchase 105 Jan. 6 Sale 193 Jan. 9 Purchase 58 Jan. 10 Sale 50 Jan. 23 Purchase 105 Jan. 30 Sale 125 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 A Cost of goods sold Ending inventory $ $ Gross profit
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