D all.. + Oct Ononimo- Cop Trace The Humber of Units Furchas.. I Chegg.com Chepler 7 Homework A Help Save & Exit Submit Check my work Orlon Iron Corp. tracks the number of units purchased and sold throughout each year but applies ts inventory costing method at the ond af the year, as if it uses a periodic inventory system. Assume its accounting records provided the following infomation at the end of the annual accounting period, December 31. 3 pins Unit Units Cost 203 $23 Transactions 8. Inventory, Beginning For the year b. Purchase, April 11 C. Purchase, June 1 3. Sale, May (scd tar $41 per unit c. Sald, July 3 188 for $41 per unit) 1. Operating expenses (excluding incenc tax expense, $18, 1RC 903 203 11 14 3k 620 1 Required: References 1. Calculate the number and cost of goods available for sale 2. Calculate the rumber of units in riding invertory 3. Compute the cost of ending inventory and cost of goods sold under la FIFO, (O) LIFO and (c) weighted average cost. 4. Prepare an income statement that shows uncer the FIFO method, LIFO method and welghted average method 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Picquired Calculate the number all cost of goods aveileble for sale. Number of Geo Axiallax Sla Cost of Goods Awalable for Sale Nied Required 2 > MC GE HII Prev 10' 9 Hii Next > D HILFI.C. + Oct Ononimo- Cop Trace The Humber of Unite Furchas.. I Chegg.com Chepler 7 Homework Help Save & Exit Submit Check my work Orlon Iron Corp. tracks the number of units purchased and sold throughout each year but applies ts inventory costing method at the end af the ycar, as if it uses a periodic inventory system. Assume its accounting rccards provided the following information at the end of the annual accounting period, December 31. 3 pin Unit Units Cost 203 $23 Transactions 8. Inventory, Beginning For the year b. Purchase, April 11 C. Purchase, June 1 3. Sale, May (scd tar $41 per unit c. Sald, July 3 188 for $41 per unit) 1. Operating expenses (excluding incenc tax expense, $18, 1RC 903 203 11 14 3k 620 1 Required: References 1. Calculate the number and cost of goods available for sale 2. Calculate the rumber of units in riding invertory 3. Compute the cost of ending inventory and cost of goods sold under la FIFO, (O) LIFO and (c) weighted average cost. 4. Prepare an income statement that shows uncer the FIFO method, LIFO method and welghted average method 6. Which inventory costing method minimics income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required Ricquired Calculate the number of units in ending invenitury. Ending Inventory LTH MC GE HII Prev 10' 9 Hii Next > D All.. 1 Chapter 7 Homework i Help Save & Exit Submit Check my work Orion Iron Carp. traces the number of units purchased and sold throughout each year but applics its inventary costing method at the end of the year, es if it uses e periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 3 Transactions a. Twentory, Regiming For the year 5. Purchase, Moril 11 1. Purchese, June 1 3. Sale, May 1 (seid for $11 per unit) 4. Sale, July 3 Isold for $41 per unit) 1. Operating expenses lexcluding income tax expense, $16,180 Unit In its Cost 309 518 11 800 14 303 628 risk + 1-1 Required Pierce 1. Calculate the number and cost of youds 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 (FIFO (4) LIFO, and (/ weighted average cost. 4. Prepare an income six terment that shows under the FIFO method, LIFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required Required 2 Required) Required 1 Required Compute the cost of ending Inventory and cost or goncs sold under (a} FIFO, (5) LIFO, and (c) weighted average cost. Do not round intermediate calculations. Round your final answers to the nearest dollar amount. Cast of Ending Cost of Goods Inventory Bold LIFO Vaghiad Anoraga Ocal Required 2 Required > MC GE HII Prev 1 0 9 Next > D alli. 1 Chapter 7 Homework 6 Help Save & Exit Submit Check my work 1 ornc annual accounting ponga, coemoer 31. Unit lin its Cost 303 513 3 Transactions 2. Inventory, Beginning For the year! 5. Purchase, Aaril 11 C. Purchase, June 1 d. Sale, May 1 (sold for $11 per unit) e. Sale, July 3 Isold for $11 per unit) 1. Operating experses lexcluding income tax experise, $18, 186 909 804 303 620 11 1 12 Required: 1. Calculate the number and cost of goods avelable for sale. 2. Calculate the rumber of units in ending Invertory 3. Compute the cost af ending inventary and cost of gaods sald under (al FIFO. CLIFO, and a wcighted average cost. 4. Prepare an income stetement that shows uncer the FIFO method, LIFO method and weighted everage method. 6. Which inventory costing method minimizes Income taxes? Complete this question by entering your answers in the tabs below. Required Required 2 Required Required Reguire Prepare an Income 5tement that shows under the FIFO method, LIFO method and weighted average method. ORION IRON CORP Income Statement For the Year Ended December 31 FIFO LIFO Weighted Average Intelen op MC GE Hill Prev 1 0 9 Next > D alli. 1 Chapter 7 Homework i ww Help Save & Exit Submit Check my work 1 Orion Iron Carp. traces the number of units purchased and sold throughout each year but applics its inventary costing method at the end of the year, es if it uses e periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 3 Transactions a. Twentory, Regiming For the year 5. Purchase, Moril 11 3. Sale, May 1 (seid for $11 per unit) 4. Sale, July 3 Isold for $41 per unit) 1. Operating expenses lexcluding income tax expense, $16,180 Unit In its Cost 309 513 11 800 14 303 628 1. Purchese, June 1" risk + 1-1 Required Pierce 1. Calculate the number and cost of youds avelable for sale. 2. Calculate the number of units in ending Inventory. 3. Compute the cost of ending inventory and cost of goods sold under (FIFO (4) LIFO, and (/ weighted average cost. 4. Prepare an income six terment that shows under the FIFO method, LIFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required Required 6 Which Inventory casting method minimizes Income taxns? FIFO OLFO Weige Poverage D all.. + Oct Ononimo- Cop Trace The Humber of Units Furchas.. I Chegg.com Chepler 7 Homework A Help Save & Exit Submit Check my work Orlon Iron Corp. tracks the number of units purchased and sold throughout each year but applies ts inventory costing method at the ond af the year, as if it uses a periodic inventory system. Assume its accounting records provided the following infomation at the end of the annual accounting period, December 31. 3 pins Unit Units Cost 203 $23 Transactions 8. Inventory, Beginning For the year b. Purchase, April 11 C. Purchase, June 1 3. Sale, May (scd tar $41 per unit c. Sald, July 3 188 for $41 per unit) 1. Operating expenses (excluding incenc tax expense, $18, 1RC 903 203 11 14 3k 620 1 Required: References 1. Calculate the number and cost of goods available for sale 2. Calculate the rumber of units in riding invertory 3. Compute the cost of ending inventory and cost of goods sold under la FIFO, (O) LIFO and (c) weighted average cost. 4. Prepare an income statement that shows uncer the FIFO method, LIFO method and welghted average method 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Picquired Calculate the number all cost of goods aveileble for sale. Number of Geo Axiallax Sla Cost of Goods Awalable for Sale Nied Required 2 > MC GE HII Prev 10' 9 Hii Next > D HILFI.C. + Oct Ononimo- Cop Trace The Humber of Unite Furchas.. I Chegg.com Chepler 7 Homework Help Save & Exit Submit Check my work Orlon Iron Corp. tracks the number of units purchased and sold throughout each year but applies ts inventory costing method at the end af the ycar, as if it uses a periodic inventory system. Assume its accounting rccards provided the following information at the end of the annual accounting period, December 31. 3 pin Unit Units Cost 203 $23 Transactions 8. Inventory, Beginning For the year b. Purchase, April 11 C. Purchase, June 1 3. Sale, May (scd tar $41 per unit c. Sald, July 3 188 for $41 per unit) 1. Operating expenses (excluding incenc tax expense, $18, 1RC 903 203 11 14 3k 620 1 Required: References 1. Calculate the number and cost of goods available for sale 2. Calculate the rumber of units in riding invertory 3. Compute the cost of ending inventory and cost of goods sold under la FIFO, (O) LIFO and (c) weighted average cost. 4. Prepare an income statement that shows uncer the FIFO method, LIFO method and welghted average method 6. Which inventory costing method minimics income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required Ricquired Calculate the number of units in ending invenitury. Ending Inventory LTH MC GE HII Prev 10' 9 Hii Next > D All.. 1 Chapter 7 Homework i Help Save & Exit Submit Check my work Orion Iron Carp. traces the number of units purchased and sold throughout each year but applics its inventary costing method at the end of the year, es if it uses e periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 3 Transactions a. Twentory, Regiming For the year 5. Purchase, Moril 11 1. Purchese, June 1 3. Sale, May 1 (seid for $11 per unit) 4. Sale, July 3 Isold for $41 per unit) 1. Operating expenses lexcluding income tax expense, $16,180 Unit In its Cost 309 518 11 800 14 303 628 risk + 1-1 Required Pierce 1. Calculate the number and cost of youds 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 (FIFO (4) LIFO, and (/ weighted average cost. 4. Prepare an income six terment that shows under the FIFO method, LIFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required Required 2 Required) Required 1 Required Compute the cost of ending Inventory and cost or goncs sold under (a} FIFO, (5) LIFO, and (c) weighted average cost. Do not round intermediate calculations. Round your final answers to the nearest dollar amount. Cast of Ending Cost of Goods Inventory Bold LIFO Vaghiad Anoraga Ocal Required 2 Required > MC GE HII Prev 1 0 9 Next > D alli. 1 Chapter 7 Homework 6 Help Save & Exit Submit Check my work 1 ornc annual accounting ponga, coemoer 31. Unit lin its Cost 303 513 3 Transactions 2. Inventory, Beginning For the year! 5. Purchase, Aaril 11 C. Purchase, June 1 d. Sale, May 1 (sold for $11 per unit) e. Sale, July 3 Isold for $11 per unit) 1. Operating experses lexcluding income tax experise, $18, 186 909 804 303 620 11 1 12 Required: 1. Calculate the number and cost of goods avelable for sale. 2. Calculate the rumber of units in ending Invertory 3. Compute the cost af ending inventary and cost of gaods sald under (al FIFO. CLIFO, and a wcighted average cost. 4. Prepare an income stetement that shows uncer the FIFO method, LIFO method and weighted everage method. 6. Which inventory costing method minimizes Income taxes? Complete this question by entering your answers in the tabs below. Required Required 2 Required Required Reguire Prepare an Income 5tement that shows under the FIFO method, LIFO method and weighted average method. ORION IRON CORP Income Statement For the Year Ended December 31 FIFO LIFO Weighted Average Intelen op MC GE Hill Prev 1 0 9 Next > D alli. 1 Chapter 7 Homework i ww Help Save & Exit Submit Check my work 1 Orion Iron Carp. traces the number of units purchased and sold throughout each year but applics its inventary costing method at the end of the year, es if it uses e periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 3 Transactions a. Twentory, Regiming For the year 5. Purchase, Moril 11 3. Sale, May 1 (seid for $11 per unit) 4. Sale, July 3 Isold for $41 per unit) 1. Operating expenses lexcluding income tax expense, $16,180 Unit In its Cost 309 513 11 800 14 303 628 1. Purchese, June 1" risk + 1-1 Required Pierce 1. Calculate the number and cost of youds avelable for sale. 2. Calculate the number of units in ending Inventory. 3. Compute the cost of ending inventory and cost of goods sold under (FIFO (4) LIFO, and (/ weighted average cost. 4. Prepare an income six terment that shows under the FIFO method, LIFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required Required 6 Which Inventory casting method minimizes Income taxns? FIFO OLFO Weige Poverage