Question: I'm stuck, please help! Need help on answers for all the areas where it says enter dollar amount. Thanks! Whispering Winds Corp. is a retailer

I'm stuck, please help! Need help on answers for all the areas where it says "enter dollar amount." Thanks!

Whispering Winds Corp. is a retailer operating in Calgary, Alberta. Whispering Winds 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 Whispering Winds for the month of January 2022.

Date

Description

Quantity

Unit Cost or Selling Price

Dec. 31

Ending inventory

150 $20

Jan. 2

Purchase

90 24

Jan. 6

Sale

184 42

Jan. 9

Purchase

70 26

Jan. 10

Sale

45 46

Jan. 23

Purchase

99 28

Jan. 30

Sale

140 47

Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.)

Jan. 1

$enter a dollar amount

Jan. 2

$enter a dollar amount

Jan. 6

$enter a dollar amount

Jan. 9

$enter a dollar amount

Jan. 10

$enter a dollar amount

Jan. 23

$enter a dollar amount

Jan. 30

$enter a dollar amount

For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (Round answers to 0 decimal places, e.g. 125.)

(1) LIFO.
(2) FIFO.
(3) Moving-average.

LIFO

FIFO

Moving-average

Cost of goods sold

$enter a dollar amount $enter a dollar amount $enter a dollar amount

Ending inventory

$enter a dollar amount $enter a dollar amount $enter a dollar amount

Gross profit

$enter a dollar amount $enter a dollar amount $enter a dollar amount

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