Part II
The following table is inventory history of AAA.
		# of units	Price per Unit	Total Cost
Dec 1	Beginning Inventory	100	$ 12	1,200
Dec 3	Purchase	200	$ 13	2,600
Dec 4	Purchase	300	$ 14	4,200
Dec 20	Purchase	400	$ 15	6,000
Dec 25	Purchase	500	$ 16	8,000
Total		1,500		22,000
During December, AAA sold 700 units at $30
How much is the Cost of Goods Available for Sale?
$ 22,000	(100 x 12) + (200 x 13) + (300 x14 ) + (400 x 15) + (500 x 16)
	1,200 +2,600 + 4,200 + 6,000 + 8,000
How much is the net sale?
$ 19,000			20,500 1,5000
Complete the following table
In this table, you have to calculate Cost of Goods Sold and Ending Inventory under LIFO, FIFO, Weighted Average method
For weighted average method, round up the average cost per unit to the two decimal points
Suppose that your income tax rate is 27% of your income before income tax.
		FIFO	LIFO	W. Average
Net Sales		$ 12,720.00
Cost of Goods Sold		$ 8,280.00
Gross Profit		$ 4,440.00
Operating Expense		100.00	100.00	100.00
Income From Operation
Other gain		100.00	100.00	100.00
Income Before Income Tax
Income Tax
Net Income