Selbe Inc. is a retailer operating in Edmonton, Alberta. Selbe uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory. (Assume that 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 Selbe Inc. for the month of January 2010. Unit Cost or Date Description Quantity Selling Price December 31 Ending Inventory 245 $31 January 2 Purchase 153 34 January 6 Sale 275 61 January 9 Sale return 15 61 January 9 Purchase 115 37 January 10 Purchase return 23 37 January 10 Sale 76 69 January 23 Purchase 153 40 January 30 Sale 184 76 For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (1) LIFO. (Assume sales returns had a cost of $31 and purchase returns had a cost of $37.) (2) FIFO. (Assume sales returns had a cost of $31 and purchase returns had a cost of $37.) (3) Moving-average. (For moving average computations, round per unit cost to 3 decimal places, e.g. 12.355.) LIFO FIFO Moving Average Cost of goods sold $ $ $ Ending inventory $ $ $ Gross profit $ $ $