Produce a balance sheet for a company that distinguishes between current and non- current assets and liabilities.

Create a balance sheet from a trial balance.

Create a comparison of net income based on different methods of inventory accounting.

Analyze a statement of cash flows and show where each line item can be found or

calculated from the other financial statements.

Prepare a full analysis of key financial ratios for a company and state conclusions about

the financial strength of the company compared to industry ratios.

PROJECT SUBMISSION PLAN

Project Part	Description/Requirements of Project Part	Evaluation Criteria
1	Title: Creating a Balance Sheet and Evaluating Inventory You will be provided with financial information about a fictional company. You will have to determine what information is relevant for Project Parts 1 and 2. Task 1: Create a balance sheet from a trial balance for a given scenario. Make sure you classify the accounts appropriately as current or non-current. Click here to download the trial balance.

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AC1420: Project

Project Part	Description/Requirements of Project Part	Evaluation Criteria
	Task 2: Perform inventory valuations using LIFO, FIFO, and weighted average methods based on the following information. Explain the impact of each method on the cost of goods sold and ending inventory. The company imports microwaves from a supplier in China for the US market. At the end of the first quarter, 100 microwaves are in stock. The company purchased a total of 400 microwaves during the quarter at various prices: January: 100 units @ $75 February: 250 units @ $83 March: 50 units @ $87 The company had no inventory at the beginning of the quarter. Task 3: If the companys goal is to maximize net income, which evaluation method will you use and why? Use the ITT Tech Virtual Library to support your answer with facts.