Date incorporated Employer identification number Beginning of period inventory Purchases of inventory End of period inventory January 1, 2007 2007-57445 $3,200,000 $4,500,000 $2,000,000 Gross sales Returns and allowances $12,500,000 $200,000 Other Income: Royalties Dividends received $130,000 $240,000 Costs: Repairs $150,000 Advertising $700,000 Bad debts $35,000 Employee benefits $800,000 Salary and wages to company employees $3,200,000 Compensation of corporate officers $1,300,000 Interest paid on bonds $88,365 Charitable contributions $10,000 Rent paid $265,800 Estimated total tax paid in 4 installments of $17,250 to US government during 2018, so taxes paid = $69,000 1 T 4 vooN- I 5 8 8 1 Inventory at beginning of year 2 Purchases 3 Cost of labor 3 Additional section 263A costs (attach schedule) 4 Other costs (attach schedule) 6 Total. Add lines 1 through 5. 7 Inventory at end of year 7 Cost of goods sold. Subtract line 7 from line 6. Enter here and on Form 1120, page 1, line 2 or the appropriate line of your tax return. See instructions 9a Check all methods used for valuing closing Inventory: Cost Lower of cost or market () Other (Specify method used and attach explanation.) Check if there was a writedown of subnormal goods Check if the LIFO inventory method was adopted this tax year for any goods (if checked, attach Form 970) d If the LIFO inventory method was used for this tax year, enter amount of closing inventory computed under LIFO 9d elf property is produced or acquired for resale, do the rules of section 263A apply to the entity? See instructions f Was there any change in determining quantities, cost, or valuations between opening and closing inventory? If "Yes," attach explanation b AA Yes No Yes No Date incorporated Employer identification number Beginning of period inventory Purchases of inventory End of period inventory January 1, 2007 2007-57445 $3,200,000 $4,500,000 $2,000,000 Gross sales Returns and allowances $12,500,000 $200,000 Other Income: Royalties Dividends received $130,000 $240,000 Costs: Repairs $150,000 Advertising $700,000 Bad debts $35,000 Employee benefits $800,000 Salary and wages to company employees $3,200,000 Compensation of corporate officers $1,300,000 Interest paid on bonds $88,365 Charitable contributions $10,000 Rent paid $265,800 Estimated total tax paid in 4 installments of $17,250 to US government during 2018, so taxes paid = $69,000