Question: Can someone answer A and B please. A. For each of the following cost flow assumptions, calculate (1) cost of goods sold, (2) ending inventory,
+P6.8 (LO 5), AP Dempsey Inc. is a retailer operating in British Columbia. Dempsey 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 Dempsey Inc. for the month of January 2022. Instructions a. 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 cost. (Round the weighted average unit cost to three decimal places.) b. Compare results for the three cost flow assumptions
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