Homewark Abstgnment

$6$

costing method at the end of each period, as if th uses a perladic trventory syetem. Ascume Ha accounting recorde provided the following twiometion at the end of the annusl sccounting pertod, December $3$t three fithe fom the purchase of January $30.$

Required:

Compute the amount of goods available for sale, ending inventory, and cost of goods sold at December $31$ under cach of the following inventory costing methods:

a$.$ Lastin, fint$-$out.

b$.$ Weighted overage cost.

c$.$ Firatin, first$-$out.

d$.$ Speclicidentification, ascuming that the March $14$ sale was selected two fifts from the beginning inventory and thie effifh from the purchase of January $30.$ Aseume that the sale of August $31$ was selected from the remainder of the beginning imentory, with the balance from the purchave of May $2$

$2z.$ Of the four methods, which will result in the highest gross profit?

$2$b$.$ Of the four methods, which will result in the lowest income taxes?

Complicte thls question by entering your answers in the tabs bclow. smount.$)$

$\backslash$table$[[,\backslash$table$[[$Amount of Goods$],[$Avallabla for Esile$]],$Ending Invertory,cort or coon$],[2.$ Larkin, frret$-$out$],[\backslash$table$[[2.$ Lakh, frist$-$out$],[$h$.$ Weighted avernge cort$]]],[,,,],[$d$.$ Spedificidertfication,$5,,]]$

Fthen $24$