"P6-8B Yuan LLtd. is a retailer that 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 Yuan Li Ltd. for the month of January 2017 (a)(iii) Gross profit: FIFO 2,600 Average E2,452 Instructions 1. For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. 1. FIFO. 2. Moving-average cost. 2. Compare results for the two cost flow assumptions. Determine ending inventory under a perpetual inventory system