Please find the attached question.

Accounting 101

Thanks

Mercer Inc. is a retailer operating in British Columbia. Mercer 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 Mercer Inc. for the month of January 2014. Date Description January 1 January January January January January January January 5 8 10 15 16 20 25 Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Quantit y Unit Cost or Selling Price 220 $16 308 242 22 121 11 198 44 19 28 28 22 22 33 24 Calculate the Moving-average cost per unit at January 1, 5, 8, 15, 20, & 25. (Round answers to 3 decimal places, e.g. $5.251.) January 1 January 5 January 8 January 10 January 15 January 16 January 20 Moving-Average Cost per unit $ $ $ $ $ $ $ January 25 $ 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 answers to 0 decimal places, e.g. $2,150.) LIFO Cost of goods sold Ending inventory Gross profit Movingaverage FIFO $ $ $ $ $ $ $ $ $