WileyPLUS: MyWileyPLUS | Help | Contact Us | Log Out Weygandt, Accounting Principles, 13e PRIN ACCTG (ACCT 131/132) tice Assignment Gradebook ORION Downloadable eTextbook ment CALCULATOR MESSAGE MY INSTRUCTOR FULL SCREEN PRINTER VERSION 1BACK NEXT Problem 6A-4A a Teal Inc. is a retailer operating in Centralia. Teal uses the perpetual inventory method. 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 Teal Inc. for the month of January 2017. Unit Cost or Date Description Quantity Selling Price Dec. 31 Ending inventory 196 $17 Jan. 2 Purchase 168 18 Jan. 6 Sale 210 32 Jan. 9 Purchase 119 20 Jan. 10 Sale 98 37 Jan. 23 Purchase 140 24 Jan. 30 Sale 154 43 (a) For each of the following cost flow assumptions, calculate (i) cost of goods sold, (ii) ending inventory, and (iii) gross profit. (1) FIFO. (2) FIFO. (3) Moving-average. ( Round average cost per unit to 3 decimal places, e.g. 1.286 and final answers to 0 decimal places, e.g. 5,125.) LIFO FIFO Moving-average Cost of goods sold $ $ Ending inventory $ Gross profit $ MacBook