(Answered) Question - bramble corp is a retailer operating in calgary

Accounting

Question - Bramble Corp. is a retailer operating In Calgary, Alberta. Bramble Corp. 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 Bramble Corp. for the month of January 2017.

Date	Description	Quantity	Unit Cost or Selling Price
Dec. 31	Ending inventory	156	$18
Jan. 2	Purchase	109	20
Jan. 6	Sale	181	41
Jan. 9	Purchase	78	22
Jan. 10	Sale	48	46
Jan. 23	Purchase	105	23
Jan. 30	Sale	140	49

For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending Inventory, and (iii) gross profit.

(1) LIFO.

(2) FIFO.

(3) Moving-average.

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