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Windsor, Inc. is a retailer operating in Calgary, Alberta. Windsor uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are
Windsor, Inc. is a retailer operating in Calgary, Alberta. Windsor uses the perpetual inventory method. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Windsor for the month of January 2022. Unit Cost or Selling Price Description Ending inventory Purchase Sale Quantity 165 99 200 Date Dec. 31 Jan. 2 Jan. 6 Jan. 9 Jan. 10 Jan. 23 Jan. 30 Purchase 81 65 Sale Purchase Sale 100 130 (al) (a2) For each of the following cost flow assumptions, calculate () cost of goods sold, (ii) ending inventory, and (iii) gross profit. (Round answers to 0 decimal places, e.g. 125.) (1) LIFO. (2) FIFO. (3) Moving-average. LIFO FIFO Moving-average Cost of goods solds Ending inventory Gross profit
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