PLEASE ANSWER ALL.

LIFO was designed to protect cash flow in industries where prices increase rapidly. It has been used for both tax and financial statement reporting since the 1930s. The higher cost of goods sold under LIFO in these circumstances results in lower reported profit than under FIFO. In the 2012 budget, President Obama has threatened to repeal LIFO. If Exxon uses FIFO for its inventory valuation, calculate the cost of ending inventory and cost of goods sold if ending inventory is 110 barrels of crude oil:

Beginning inventory and purchases	Barrels			Barrel cost			Total cost
Beginning inventory: Jan 1		135		$	96		$	12,960
March 1		60			102			6,120
June 1		75			99			7,425
September 1		85			91			7,735
December 1		60			104			6,240
		415					$	40,480

Cost of ending inventory	$
Cost of goods sold	$

Given the following, calculate the estimated cost of ending inventory using the gross profit method.

Gross profit on sales		65	%		Net purchases	$	3,700
Beginning inventory	$	28,800			Net sales at retail	$	16,800

Estimated cost of ending inventory

$

Complete the following: (Round your answers to the nearest hundredth.)

Average inventory at cost	Average inventory at retail	Net sales	Cost of goods sold	Inventory turnover at cost	Inventory turnover at retail
$15,200	$22,740	$76,000	$55,800

From the following, calculate the cost ratio and the cost of ending inventory to the nearest cent under the retail method.(Round the "cost ratio" to the nearest hundredth percent. Round the "cost of ending inventory" to the nearest cent.)

Net sales at retail for year	$	35,000
Beginning inventorycost	$	22,000
Beginning inventoryretail	$	44,000
Purchasescost	$	13,000
Purchasesretail	$	18,000

	Cost	Retail
Beginning inventory	$	$
Net purchases
Cost of goods available for sale	$	$
Less net sales at retail
Ending inventory at retail		$
Cost ratio		%
Ending inventory at cost		$