ASSIGNMENT RESOURCES Unit 7 Lab Assignment Brief Exercise 6-4 Brief Exercise 6-12 Exercise 6-1 Exercise 6-13 Brief Exercise 6-4 In its first month of operations, Oriole Company made three purchases of merchandise in the following sequence: (1) 200 units at 57, (2) 300 units at $9, and (3) 400 units at $10. Assuming there are 100 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Oriole Company uses a periodic inventory system. The Ending Inventory FIFO Review Score Review Results by Study Objective LIFO Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Question Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER ASSIGNMENT RESOURCES Unit 7 Lab Assignment Brief Exercise 6-4 Brief Exercise 6-12 Exercise 6-1 Exercise 6-13 Brief Exercise 6-12 Wildhorse Co. provides this information for the month ended October 31, 2017: sales on credit $305,400, cash sales $154,300, sales discounts 55,130, and sales returns and allowances $23,660. Prepare the sales section of the income statement based on this information. WILDHORSE CO. Income Statement (Partial) Review Score Review Results by Study Objective Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT INTERACTIVE TUTORIAL Question Attempts: 0 of 5 used SAVE FOR LATER SUBMIT ANSWER Exercise 6-13 Financial information for two companies are presented below. Fill in the missing amounts. Blossom Company Sunland Company 584,000 Sales revenue Sales returns and allowances Net sales Cost of goods sold 3,000 100,000 78,000 54,600 Gross profit 40,000 Operating expenses 13,962 Net income 14,000 SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT Calculate the profit margin and the gross profit rate for each company. (Round answers to 1 decimal place, e.g. 15.5%.) Blossom Company Sunland Company Profit margin Gross profit rate Click if you would like to Show Work for this question: Open Show Work