Below Pember Inc. is a retailer operating in Edmonton, Alberta. Pember uses the

Question

Below

Pember Inc. is a retailer operating in Edmonton, Alberta. Pember 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 Pember Inc. for the month of January 2014. Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.) For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (Round answers to 0 decimal places, e.g. 125.)

Explanation / Answer

1-Jan $ 34.000 2-Jan $ 35.154 6-Jan $ 35.154 9-Jan $ 37.988 10-Jan $ 37.988 23-Jan $ 40.429 30-Jan $ 40.429

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.