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please help me problem IV Problem III - Multiple-Step Income Statement (15 points) Below is a partial listing of the adjusted account balances of TL
please help me problem IV Problem III - Multiple-Step Income Statement (15 points) Below is a partial listing of the adjusted account balances of TL Department Store at year-end on December 31, 2018. Accounts Receivable $ 20,000 Cost of Goods Sold 260,000 Selling Expenses includes depreciation) 36.000 Interest Expense 2,500 Accumulated Depreciation - Building 12.000 Sales Discounts 20,000 Merchandise Inventory 47,000 Administrative Expenses (includes depreciation) 17.000 Sales 400,000 Accounts Payable 15,000 Interest Revenue 900 Instructions Using whatever data you believe appropriate, prepare a multiple-step income statement for TL Department Store for the year ended December 31, 2018. Problem IV - Periodic Inventories (10 points) TH Company uses the periodic inventory method and had the following inventory information available for the month of November. Date Transaction Units Unit Cost 11/1 Beginning inventory 250 $8 11/5 Purchase No. 1 $12 11/12 Sale No. 1 (150) 11/18 Purchase No. 2 250 $16 11/25 Sale No. 2 (300) Answer the following independent questions and show computations supporting your answers. 300 1. Assume that the company uses the average cost method. What is the dollar value of the ending inventory on November 30? What is the dollar value of the cost of goods sold during November? 2. Assume that the company uses the FIFO inventory method. What is the dollar value of the ending inventory on November 30? What is the dollar value of the cost of goods sold during November
please help me problem IV
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