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I need help with all three homework the class I'm taken there is no book. So I am having some problems. Thank You, Jocelyn Adriaan

I need help with all three homework the class I'm taken there is no book. So I am having some problems.

Thank You,

Jocelyn

image text in transcribed Adriaan Taylor Corporation is a newly formed entity that engages in the purchase and resale of amphibious tour vehicles. Purchases for the first year of operation were as follows: Date Purchases 7-Jan 50 units @ $15 each 15-Mar 70 units @ $16 each 16-Jun 30 units @ $16.50 each 3-Aug Sold 200 units at $30/unit 90 units @ $17 each (a) If Adriaan Taylor uses the first-in, first-out (FIFO) inventory method (periodic approach), what values would be assigned to ending inventory and cost of goods sold? Date Units Price per Unit Cost of Units Sold FIFO Cost of Units in Ending Inventory Partial Income Statement FIFO Sales Cost of Units Sold Gross Profit (b) If Adriaan Taylor uses the last-in, first-out (LIFO) inventory method (periodic approach), what values would be assigned to ending inventory and cost of goods sold? How much is gross profit? Date Units Price per Unit Cost of Units Sold LIFO Cost of Units in Ending Inventory Partial Income Statement LIFO Sales Cost of Units Sold Gross Profit (c) If Adriaan Taylor uses the weighted-average inventory method (periodic approach), what values would be assigned to ending inventory and cost of goods sold? Date Units Price per Unit Cost of Units Sold LIFO Cost of Units in Ending Inventory Partial Income Statement Average Cost Sales Cost of Units Sold Gross Profit Which of the above techniques produces the highest profit? Which of the above techniques reports the most "current" cost on a balance sheet? Which of the above techniques report the most "current" cost in measuring income? Which of the above techniques results in the lowest income tax obligation? Adriaan Taylor Corporation is a newly formed entity that engages in the purchase and resale of amphibious tour vehicles. Purchases for the first year of operation were as follows: Date Transactions Amounts Beginning Inventory 50 units @ $15 each 20-Feb Sales 20 units @ $20 each 15-Mar Purchases 70 units @ $16each 16-Jun Purchases 30 units @ $16.50 each 31-Jul Sales 80 units @ $21 each 3-Aug Purchases 90 units @ $17 each 4-Aug Sales 80 units @ $25 each 1-Jan (a) If Adriaan Taylor uses the first-in, first-out (FIFO) inventory method (perpetual approach), what values would be assigned to ending inventory and cost of goods sold? Purchases FIFO Units Cost of Sales $$$ Total Units $$$ Ending Inventory Cost Total Units Total Cost (b) If Adriaan Taylor uses the last-in, first-out (LIFO) inventory method (perpetual approach), what values would be assigned to ending inventory and cost of goods sold? How much is gross profit? Purchases LIFO Units Cost of Sales $$$ Total Units $$$ Ending Inventory Cost Total Units Total Cost (c) If Adriaan Taylor uses the weighted-average inventory method (perpetual approach), what values would be assigned to ending inventory and cost of goods sold? Purchases Average Cost Units Cost of Sales $$$ Total FIFO LIFO Sales Sales Cost of Units Sold Cost Sold Gross Profit Gross Profit Units Ending Inventory Cost $$$ Total Partial Income Statement Average Cost Sales of Units Units Cost Sold of Units Gross Profit Total Average Cost Design World Payroll Register Employee Acel Beeler Jones Nicerman Wasserman 401(k) Yes No Yes No No Gross Pay 401(k) Pay after 401(k) Federal Income Tax Deductions Social Security Tax 9,000.00 9,000.00 9,000.00 8,837.00 4,200.00 Please enter an IF formula for the social security tax that will work regardless of the base pay. This IF formula is worth 5 points. Also, please enter an IF formula to compute 401(k). Medicare Tax - Tax Information Current Year 401(k) rate Federal Tax (after deducting 401(k)) FICA tax rate Medicare tax rate FICA tax maximum income Net Pay Cum. Gross Pay to Oct 31 100,000.00 115,000.00 110,000.00 99,500.00 55,000.00 2013 3% 20% 6.20% 1.45% $113,700

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