Problem 6-8A (Part Level Submission) 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 2015 Unit Cost or Selling Price Date Description Quantity January 1 Beginning January 5 Purchase January 8 Sale January 10 Sale return January 15 Purchase January 16 Purchase return January 20 Sale January 25 Purchase 200 280 220 20 110 10 180 40 $15 18 27 27 20 20 29 21 inventory (a1) Your answer is partially correct. Try again 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.) Moving-Average Cost per uni January 1 15 January 5 16.75 January 8 16.75 January 10 16.75 January 15 17.67 January 16 18.18 January 20 18.18 January 25 18.18 SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 5 of 5 used (a2) (a2) Your answer is partially correct. Try again. 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 O decimal places, e.g. $2,150.) FO oving-average Cost of goods sold 6,840 3,840 3,780 6,040 6,391 4,468.8 4,229 Ending inventoryU 4,640 Gross profit 4,580 LINK TO TEXT Attempts: 2 of 5 used