Problem 6-8A (Part Level Submission)

Blue Spruce Corp. is a retailer operating in Calgary, Alberta. Blue Spruce 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 Blue Spruce Corp. for the month of January 2017.

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.

Problem 6-8A (Part Level Submission) Blue Spruce Corp. is a retailer operating in Calgary, Alberta. Blue Spruce 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 Blue Spruce Corp. for the month of January 2017 Quantity 149 96 175 72 49 Description Unit Cost or Selling Price Date Dec. 31 Ending inventory Jan. 2 Purchase Jan. 6 Sale Jan. 9 Purchase Jan. 10 Sale Jan. 23 Purchase an. 30 Sale $20 39 25 142 47 (a1) Your answer is correct. Calculate average cost for each unit. (Round answers to 3 decimal places, e.g. 5.125.) Jan. 1 Jan. 2 20. an. 6 Jan. 9 Jan. 10 Jan. 23 an. 30 20. 22.41 22.41 23.74 23.74 SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT