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please submit answers in BOLD, also i would appreciate a message to my mail justforgrailed@ g m a i l. com i will reward greatly!!!
please submit answers in BOLD, also i would appreciate a message to my mail justforgrailed@ g m a i l. com
i will reward greatly!!!
mail is jusforgrailed2001 @ g m a i l. com!!!!!!
5 Complete the requirements for each of the following independent cases: 4 of 5 Tompkins Company reports the following inventory record for November: INVENTORY Date Activity # of Units Cost/Unit November 1 Beginning balance 105 $19 November 4 Purchase 315 20 November 7 Sale (@ $56 per unit) 225 November 13 Purchase 520 22 November 22 Sale (@ $56 per unit) 475 Hook Print Selling, administrative, and depreciation expenses for the month were $15,100. Tompkins's effective tax rate is 30 percent Required: 1. Calculate the cost of ending inventory and the cost of goods sold under each of the following methods using periodic inventory system: 2-a. What is the gross profit percentage under the FIFO method? 2-b. What is net income under the LIFO method? 3. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of the month. Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $17.60 per unit, what would Tompkins report on the balance sheet for inventory? erences Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate the cost of ending inventory and the cost of goods sold under each of the following methods using periodic inventory system: (Do not round intermediate calculations.) Endina Cont of Selling, administrative, and depreciation expenses for the month were $15,100. Tompkins's effective tax rate is 30 pe Required: 1. Calculate the cost of ending inventory and the cost of goods sold under each of the following methods using peric system: 2-a. What is the gross profit percentage under the FIFO method? 2-b. What is net income under the LIFO method? 3. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of th Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $17.60 per unit, w Tompkins report on the balance sheet for inventory? . OK it Complete this question by entering your answers in the tabs below. nces Required 1 Required 2 Required 3 Calculate the cost of ending inventory and the cost of goods sold under each of the following methods using periodic Inve system: (Do not round intermediate calculations.) Ending Inventory Cost of Goods Sold a. First-in, first-out b. Last-in, first out c. Weighted average Required Required 2 > BRE pints were $15,100. Tompkins's effective tax rate Required: 1. Calculate the cost of ending inventory and the cost of goods sold under each of the following methods us system: 2-a. What is the gross profit percentage under the FIFO method? 2-b. What is net income under the LIFO method? 3. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $17.60 pe Tompkins report on the balance sheet for inventory? eBook Print Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 a. What is the gross profit percentage under the FIFO method? (Round your percentage answer to 2 decimal pla 0.1234 should be entered as 12.34).) b. What is net income under the LIFO method? % 2-a. Gross profit percentage under FIFO 2-b. Net income under LIFO 5 6 Next > of 7 Step by Step Solution
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