Show me the steps to solve Waterway Inc. is a retailer operating in British Columbia. Waterway uses the perpetual inventory system. 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 Waterway Inc. for the month of January $2027.$

$($a$2)$

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 average$-$cost per unit to $3$ decimal places, e$.$g$.12\mathrm{.}502$ and final answer to $0$ decimal places, e$.$g$.1,250.)$