Skysong Inc. is a retailer operating in Centralia.

Skysong Inc. is a retailer operating in Centralia. Skysong 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 Skysong Inc. for the month of January 2017 Unit Cost or Selling Price Date Description Quantity Dec. 31 Ending inventory 168 $15 Jan. 2 Purchase 144 16 Jan. 6 Sale 180 29 Jan. 9 Purchase 102 19 Jan. 10 Sale 84 35 Jan. 23 Purchase 120 21 Jan. 30 Sale 132 42 (a) For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (1) FIFO. (2) FIFO. (3) Moving-average. (Round average cost per unit to 3 decimal places, e.g. 1.286 and final answers to O decimal places, e.g. 5,125.) (a) For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (1) FIFO. (2) FIFO.(3) Moving-average. (Round average cost per unit to 3 decimal places, e.g. 1.286 and final answers to O decimal places, e.g. 5,125.) LIFO FIFO Moving-average Cost of goods sold $ $ Ending inventory $ $ $ Gross profit $ $