Question: Problem 6-08A al-a2 (Part Level Submission) Metlock, Inc. is a retailer operating in Calgary, Alberta. Metlock uses the perpetual inventory method. Assume that there are


Problem 6-08A al-a2 (Part Level Submission) Metlock, Inc. is a retailer operating in Calgary, Alberta. Metlock 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 Metlock for the month of January 2022. Quantity 160 Unit Cost or Selling Price $20 96 Date Dec. 31 Jan. 2 Jan. 6 Jan. 9 Jan. 10 Jan. 23 Jan. 30 Description Ending inventory Purchase Sale Purchase Sale 180 76 56 Purchase 114 Sale 140 7 (a2) 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 $ 0 " Ending inventory $ 0 " Gross profit " 0
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