$*$P$6\mathrm{.}8$A $($LO $5)$ Dempsey Inc. is a retailer operating in British Columbia. Dempsey uses the perpetual inventory method. 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 $2020.$

Calculate $cos$ ending invent and moving$-$c perpetual sys profit under

Instructions

a$.$ For each of the following cost flow assumptions, calculate $($i$)$ cost of goods sold, $($ii$)$ ending

a$.($iii$)$

inventory, and $($iii$)$ gross profit.

LIFO.

Purchase return: $$ b$$n tr$$ lai imua

FIFO.

Moving$-$average cost. $($Round cost per unit to three decimal places.$)$

b$.$ Compare results for the three cost flow assumptions.