PLEASE, 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 100 barrels of crude oil: in format shown in photo

Marvin Company has a beginning inventory of 12 sets of paints at a cost of $1.00 each. During the year, the store purchased 4 sets at $1.10, 6sets at $1.70, 6 sets at $2.00, and 10 sets at $2.50. By the end of the year, 25 sets were sold.

a.	Calculate the number of paint sets in ending inventory.=_____________

Comcast lost 135,000 customers in the last quarter of 2010 due to the economic challenges presented by the recession. Business improved in the last quarter of 2011 when it lost only 17,000 customers and things are looking up for 2012. Assume Comcast is upgrading its cable boxes and has 620 obsolete boxes in ending inventory.

What is the cost of ending inventory using FIFO, LIFO, and the weighted-average method? (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.)

Mays Dress Shops inventory at cost on January 1 was $36,000. Its retail value was $56,000. During the year, May purchased additional merchandise at a cost of $194,400 with a retail value of $394,400. The net sales at retail for the year were $345,000.

Calculate Mays inventory at cost by the retail method. (Round the "cost ratio" to the nearest whole percent.)

Net sales at retail=________________

Over the past 3 years, the gross profit rate for Jini Company was 35%. Last week a fire destroyed all Jinis inventory.

Using the gross profit method, estimate the cost of inventory destroyed in the fire, given the above facts that were recorded in a fireproof safe.

Net sales at retail	$48,400
Cost of goods sold (estimated)
Beginning inventory
Cost of goods available for sale
	31,460
Inventory destroyed (estimated)

was designed to protect cash flow in industries where prices increase rapidly-lt has been used for tax and financial statement reporting since the 1930s. The higher cost of goods sold under LIFO in e circumstances results in lower reported profit than under FIFO. In the 2012 budget, President Obama threatened to repeal LIFO. If Exxon uses FIFO for its inventory valuation, calculate the cost of ending ntory and cost of goods sold if ending inventory is 100 barrels of crude oil Cost of Goods Available for Sale Costot Good sold nding mventory Cost pe Cost of units of units oods Cost per Ending unit uni Goods SoE ending Sold ginning inventory 117 94 0,998 1 42 103 4.326 ne 1 57 97 5.529 97 ptember 1 92 6 164 92 102 cem 284 325 911901