BE6-4 The management of Muni Corp, is considering the effects of inventory-costing methods on its financial statements and its income tax expense. Assuming that the price the company pays for inventory is increasing, which method will: (a) Provide the higher net income? (b) Provide the higher ending inventory? (c) Result in the lower income tax expense? (d) Result in the more stable earnings over a number of years? BE6-5 Blackburn Appliance Center accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Data E12.100 Cameras E12,000 9,420 Camcorders 9,200 Blu-ray players 4,000 12,800 Compute the lower of cost-or-net realizable value valuation for the company's total inventory BE6-6 Zammit Company reports net income of 90,000 in 2017, However,ending inven tory was understated 5,000. What is the correct net income for 2017? What effect, if any, will this error have on total assets as reported in the statement of financial position at December 31, 2017 BE6-7 At December 31, 2017, the following information was available for Tai Lin Com pany: ending inventory HK$400,000, beginning inventory HK$580,000, cost of goods sold HK$2,842000, and sales revenue HK$3,800,000. Calculate inventory turnover and days in inventory for Tai Lin Company, Ltd