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Hi, I need to do only Task 3(second picture). But it is connected to Task2 (first picture) information. Hopefully, you can help me. Thank you!

Hi, I need to do only Task 3(second picture). But it is connected to Task2 (first picture) information. Hopefully, you can help me. Thank you!

Following in an assignment:

"Sophia is now familiar with the three cost flow assumptions, but she is unclear about the impact of these assumptions on HHEC.coms net income. She, therefore, provides you with HHEC.coms projected annual sales revenue, operating expenses, and an income tax rate, and asks you to use the information from Task 2 to calculate the companys projected gross profit, income before income taxes, income tax expense, and net income. Use the information given in the Excel spreadsheet listed below to prepare a multi-step income statement for HHEC.com. "image text in transcribedimage text in transcribed

During the month of FebruaryYear 3, HHEC.COM made the following purchases Beginning Inventory, February 1 February 10 Purchase February 21 Purchase February 28 Purchase Total Units Unit Cos Total Cost 90 100 110 200 300 400 100 18,000 30,000 44,000 1,000 104,000 At the end of February, there were 870 units on hand. Determine (1) ending inventory; and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average cost) Answer LIFO -Units Sold: 130 Cost of Goods Sold UnitsCost Iotal Ending Inventor FIFO -Units Sold: 130 Cost of Goods Sold Units Cost Ending Inventor Average Cost Average Cost - Units Sold: 130 Units Cost

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