Stravinsky Company, a retailer selling a single product, opened shop on 2 April. The first months transactions

Question:

Stravinsky Company, a retailer selling a single product, opened shop on 2 April. The first months’ transactions were as follows:
April 02: Takes delivery and is invoiced for 220 units @ 22 CU each
April 08: Takes delivery and is invoiced for 180 units @ 18 CU each
April 17: Sale of 240 units @ 25 CU each.
Required
Using successively each of the three costing methods (FIFO, LIFO and WAC), prepare a table allowing you to compare the impact of the three methods on:
1 The ;
2 The net income, assuming a 30 percent income tax rate;
3 The cash flow. Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...