Current Attempt in Progress

Novak Corp. is a retailer operating in Calgary, Alberta. Novak 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 Novak Corp. for the month of

January $2022.$

$($a$2)$

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

per unit cost to $3$ decimal places, e$.$g$.15\mathrm{.}647$ and final answers to $0$ decimal places, e$.$g$.5,125.)$

$(1)$ LIFO.

$(2)$ FIFO.

$(3)$ Moving$-$average.