View Policies Current Attempt in Progress Swifty Inc. is a retailer operating in British Columbia, Swifty 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 Swifty Inc. for the month of January 2022. Date Quantity Unit Cost or Selling Price Description Beginning inventory January 1 100 $17 January 5 Purchase 144 20 January 8 Sale 109 29 January 10 Sale return 10 29 January 15 Purchase 55 22 January 16 Purchase return 5 22 January 20 Sale 95 33 January 25 Purchase 22 24 Calculate the Moving-average cost per unit at January 1, 5, 8, 10, 15, 16, 20, & 25. (Round intermediate calculations to decimal places and final answers to 3 decimal places, eg, 5.251) Moving-Average Cost per unit January 1 $ January 5 NA January 8 $ January 10 January 15 $ January 16 $ $ January 20 $ VA January 25 $ (a2) 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, eg. 12.502 and final answer to decimal places, eg. 1,250.) LIFO FIFO Moving-average Cost of goods sold $ Ending inventory Gross profit $ e Textbook and Media Save for later Attempts: 0 of 5 used Submit Answer Sandhill Co, began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units July 1 1 5 $ 170 July 6 3 July 11 6 $184 July 14 July 21 7 $ 195 July 27 5 Calculate the average cost per unit at July 1,6,11,14,21& 27. (Round Intermediate calculations to O decimal places and final answer to 3 decimal places, es. $105.501) Average cost for each unit July 1 $ July 6 $ July 11 $ July 14 $ July 21 $ July 27 (a2) Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving average cost, and (3) LIFO. (Round average-cost per unit to 3 decimal places, c.8. 12.520 and final answer to decimal places, eg. 1.250.) FIFO MOVING-AVERAGE The ending inventory under a perpetual inventory system $ eTextbook and Media Suve for Later Attempts: 0 of 5 used Submit Answer thi Which costing method produces the highest ending inventory? e Textbook and Media Save for Later Attempts:0 of 5 used Submit