Chewy Inc is a retailer operating in the town. Chewy uses the perpetual inventory method....
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Accounting
Chewy Inc is a retailer operating in the town. Chewy uses the perpetual inventory method. All ales return from the customer not damage. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Chewy Inc. for the month of January 2018. Date Description January 1 Beginning inventory January 5 Purchase January 8 Sale January 10 Sales return January 15 Purchase January 16 Purchase return January 20 Sale January 25 Purchase Quantity Unit cost or selling price $15 14 25 25 18 18 25 20 60 110 90 10 35 10 90 10 Required: (o) For each the following cost flow assumptions, calculate (0) cost of goods sold, (ii) endingi profit. (3) Moving-average (2) FIFO
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