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Problem 6-08A al-a2 (Part Level Submission) Wildhorse Co. is a retailer operating in Calgary, Alberta. Wildhorse uses the perpetual inventory method. Assume that there are
Problem 6-08A al-a2 (Part Level Submission) Wildhorse Co. is a retailer operating in Calgary, Alberta. Wildhorse 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 Wildhorse for the month of January 2022. Quantity Unit Cost or Selling Price 150 $20 200 Date Dec. 31 Jan. 2 Jan. 6 Jan. 9 Jan. 10 Jan. 23 Jan. 30 Description Ending inventory Purchase Sale Purchase Sale Purchase Sale (al) Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.) Jan. 1 s Jan. 23 For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (ii) gross profit. (Round answers to o decimal places, e.g. 125.) (1) LIFO. (2) FIFO. (3) Moving-average. LIE FIFO Moving-average Cost of goods sold Ending inventory Gross profit Click if you would like to Show Work for this question: Open Show Work
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