same format for aquestions a and b

Indigo Inc is a retailer using the periodic inventory system. All sales returns from customers result in the goods being returned to inventory. (Assume that 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 Indigo Inc for the month of January. Date Quantity 160 Dec 31 Jan 2 dan 6 Jan. 9 Jan. 9 Jan 10 Jan. 10 Jan. 23 Jan. 30 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Sale 100 180 10 75 15 50 100 120 Unit Cost or Selling Price 21 22 38 38 25 25 44 27 51 (a) Calculate (i) cost of goods sold and (ii) ending inventory using FIFO. (Assume sales returns had a cost of $21 and purchase returns had a cost of $25.) 0 Cost of goods sold $ Ending inventory $ Marigold Inc is a retailer using a perpetual inventory system. All sales returns from customers result in the goods being returned to inventory. (Assume that 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 Marigold Inc. for the month of January Unit Cost or Selling Price $19 Quantity 160 100 180 10 23 40 40 Date Dec 31 Jan 2 Jan 6 Jan 9 Jan 9 10 Jan. 10 Jan 23 Jan. 30 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Sale 25 25 Jan 75 15 50 100 120 47 27 50 (a) Using FIFO method, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (Assume sales returns had a cost of $19 and purchase returns had a cost of $25.) Cost of goods sold $ Ending Inventory $ Gross Profit $ e Textbook and Media