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Oriole Inc. is a retailer operating in British Columbia. Oriole uses the perpetual inventory system. All sales returns from customers result in the goods being
Oriole Inc. is a retailer operating in British Columbia. Oriole uses the perpetual inventory system. 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 Oriole Inc. for the month of January 2022. Description Date Quantity Unit Cost or Selling Price January 1 Beginning inventory 100 $15 January 5 Purchase 143 18 January 8 Sale 112 28 January 10 Sale return 10 28 January 15 Purchase 55 20 January 16 Purchase return 5 20 January 20 Sale 91 33 January 25 Purchase 20 22 80 Q MacBook Air 8 (a1) * Your answer is incorrect. Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round intermediate calculations to O decimal places and final answers to 3 decimal places, eg. 5.251.) Moving-Average Cost per unit January 1 January 5 $ January 8 January 10 $ January 15 $ January 16 $ #2 : 1500 MacBook Air a G F4 FS F6 0 F7 DII DD FR FO 13 F10 Save for Later (a2) Attempts: 1 of 5 used Submit Answer 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.112.502 and final answer to O decimal places, e.g. 1,250.) LIFO FIFO Cost of goods sold $ Ending inventory $ $ Gross profit $ eTextbook and Media Save for Later : F3 MacBook Air AD a F6 FS Moving-average $ $ Attempts: 0 of 5 used Submit Answer 0 DII D 37 FR 8: $10
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