Just answer E 6.16

2018 Purchase Sold Purchase Sold 220 units @ $12 per unit 120 units @ $25 per unit 100 units @ $15 per unit 130 units @ $25 per unit March 1 June 1 September 1 November 1 2019 March 1. June 1 September 1 November 1 Purchase 70 units @ $16 per unit Sold BO units @ $30 per unit Purchase 100 units @ $18 per unit Sold 90 units @ $35 per unit Calculate the weighted average cost of goods sold and ending inventory for 2018 and 2019 assuming use of (a) the periodic method and (b) the perpetual method. FIFO versus LIFO: Ratio Analysis. Presented below is financial data for two companies that are identical in every respect except that Company X uses the FIFO method to value its inventory and Company Z uses the LIFO method to value its inventory. Using this data, calculate the following ratios: return on sales, inventory turnover, inventory-on-hand period, and current ratio. Which of the two companies is the better investment opportunity? Why? E6.16 Sales.... Cost of goods sold Net income. Inventory.. Current assets Current liabilities. Company $110,000 49,500 27,750 21,000 64,000 22,000 Company z $110,000 60,000 17.250 10,500 53,500 22,000 17 Inventory Management. The following financial information is taken from the annual report of Inte Corporation: 2018 2017 (amounts in millions) Net revenues Cost of goods sold Ending inventories 8.48 111 253 $62,761 23,608 6,983