(Answered) Problem -indigo corporation is a retailer operating in

Accounting

Problem -

Indigo Corporation is a retailer operating in Calgary, Alberta. Indigo Corporation uses the perpetual inventory method. Assume that these are no credit transactions; all amounts are settled in cash. You are provided with the following information for Indigo Corporation for the month of January 2017.

Date	Description	Quantity	Unit Cost or Selling Price
Dec. 31	Ending inventory	163	$20
Jan. 2	Purchase	104	22
Jan. 6	Sale	185	37
Jan. 9	Purchase	70	24
Jan. 10	Sale	54	42
Jan. 23	Purchase	90	25
Jan. 30	Sale	123	45

For each of tie following cost flow assumptions, calculate (1) cost of goods sold, (ii) ending inventory, and (iii) gross profit.

(1) LIFO.

(2) FIFO.

(3) Moving-average.

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