Can I get help solving BE 6-7?

(a) kesuit in tne most stavie earnings over a numper or years Explain the financial statement effect of inventory cost flow assumptions (102) BE6-6 In its first month of operation, Hoffman Company purchased 100 units of inventory for $6, then 200 units for $7, and finally 140 units for $8. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result if the company used FIFO rather than LIFO. Explain why this amount is referred to as phantom profit. The company uses the periodic msthod. Determine correct income statement amounts (LO 3) BE6-7 Pettit Company reports net income of $90,0o0 in 2019. However, ending inventory was understated $7,000. What is the correct net income for 2019? What effect, if any, will this error have on total assets as reported in the balance sheet at December 31, 2019? Determine the LCNRV valuation using inventory categories. LO 4) BE6-8 Central Appliance Center accumulates the following cost and net realizable value data at December 31. Inventory Categories Cost Data Net Realizable Value Data Cameras Camcorders Blu-ray players $12,000 9,500 14,000 $12,100 9,700 12,800 Compute the lower-of-cost-or-net realizable value for the company's total inventory. Compute inventory turnover and days in inventory