Canvas SiMnet - Assignme MAS 130 ppt Microsoft Office ded Homework Check my work mode : This shows what is correct or incorrect for the work you have completed so fort. It does not Scoresby Inc. tracks the number of units purchased and sold throughout each year but applies its inventory costing of the year, as if it uses a periodic inventory system. Assume its accounting records provided the following information the annual accounting period, December 31 Transactions 1. Inventory, leginning For the year b. Purchase, March c. Purchase. September 19 Sale, April 15 (sold for 371 per unit) e Sale, October 31 (sold for 574 per unit) f. Operating penses (excluding income tax expense), 5594,000 URE Units Cost 1.000 526 10,000 22 29 Required: 1. Calculate the number and cost of goods available for sale 2. Calculate the number of units in ending inventory 3. Compute the cost of ending inventory and cost of goods sold under (a] FIFO, UFO, and (c) weighted average cos 4. Prepare an income statement that shows the FIFO method UFO method and weighted average method 6. Which inventory costing method minimizes income taxes? Prey 1 of 1 Nord earch O E hp 4 96 5 z 60 7 8 9 o a E R T Y U O P C 3 D D F G H J K K L Check my work mode: This shows what is correct or incorrect for the work you Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Calculate the number and cost of goods available for sale. Number of Goods Available for Sale Cost of Goods Available for Sale units 5428,000 * Required. Required 2 > Prey 1 of 1 e to search o 3 hp 6. Which inventory costing method minimizes income taxes: Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Calculate the number of units in ending inventory. Ending Inventory units Prey 1 of 1 IS! search of hp 6. Which inventory costing method minimizes income taxes? Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Compute the cost of ending inventory and cost of goods sold under (a) FIFO, Cost of Ending Inventory Cost of Goods Sold FIFO LIFO Weighted Average Cost Prey 1 of 1 NE earch ORI hp Check my work mode : This shows what is correct or incorrect for the work you have Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Which inventory costing method minimizes income taxes? OFIFO OLIFO Weighted Average