R costing method at the end of the year, as if it uses a periodic Inventory system. Assume its accounting records provided the following Information at the end of the annual accounting period, December 31. tinit 300 ORG $15 Fransactions a. Inventory Beginning Tor the year b. Purchase, April 11 c. Purchase, June 1 d. Sale, May 1 (nold for $43 per unit) o. Sale, July 3 (sold for $43 por unit) f. Operating expenses (excluding income tax expense), $19,400 13 16 800 700 300 650 POK onces Required: 1. Calculate the number and cost of goods available for sale, 2. Calculate the number of units in ending inventory. 3. Compute the cost of ending Inventory and cost of goods sold under (0) FIFO, (b) LIFO, and (c) weighted average cost. 4. Prepare an income statement that shows under the FIFO method, LIFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending Inventory. 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, and (c) we 4. Prepare an income statement that shows under the FIFO method, LIFO method and weighted ave 6. Which Inventory costing method minimizes income taxes? cost. SOK ht Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Calculate the number and cost of goods available for sale. 9. units Number of Goods Available for Sale Cost of Goods Available for Sale Required 2 > MacBook Air DDD esc 20 F1 F2 53 @ # 3 $ 4 % 5 2 6 Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending Inventory 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIFC 4. Prepare an income statement that shows under the FIFO method, LIFO method and S. Which inventory costing method minimizes Income taxes? cost. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Calculate the number of units in ending inventory. Ending Inventory units MacBook esc Required: 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIF cost. 4. Prepare an income statement that shows under the FIFO method, LIFO method and 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Required 4 Required 6 Required 3 Compute the cost of ending inventory and CS goods sold under (a) FIFO, (b) LIFO, and (c) round intermediate calculations. Round your final answers to the nearest dollar amount.) Cost of Ending Cost of Goods Inventory Sold FIFO LIFO Weighted Average Cost MacBook esc F1 20 000 000 F3 F4 signed Homework Suved Help 5. Which Inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Prepare an Income Statement that shows under the FIFO method, LIFO method and weighted average m ORION IRON CORP lataliant For the Year Ended December 31 FIFO+ LIFO Wolghted Average Income from operations MacBook esc 80 F2 .. F3 000 ezto.meducation.com ssigned Homework 6 Saved Help 2. Luuletur my Very LULUI YUUU SUURUT ITU, IR, OUT cost. 1. Prepare an income statement that shows under the FIFO method, LIFO method and weighted a 3. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Which Inventory costing method minimizes income taxes? OFIFO OLIFO Weighted Average MacBook AS "sc
