Scoresby Inc tracks the number of units purchased and sold throughout each year but applies its inventory 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, 2013 Transactions Units Unit Cost a Inventory, December 31, 2012 4,000 $ 20 For the year 2013 b Purchase, March 5 10,000 21 c Purchase, September 19 6,000 23 d Sale, April 15 (sold for $65 per unit) 4,500 e Sale, October 31 (sold for $68 per unit) 9,000 f Operating expenses (excluding income tax expense), $615,000 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 ) weighted average cost (Do not round intermediate calculations Round your final answers to the nearest dollar amount ) 4 Prepare an income statement that shows 2013 amounts under the FIFO method, LIFO method and weighted average method (Loss amounts should be indicated with a minus sign Do not round intermediate calculations Round your final answers to the nearest dollar amount )

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Scoresby Inc. tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the year,

Scoresby Inc. tracks the number of units purchased and sold throughout each year but applies its inventory 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, 2013.

Transactions	Units		Unit Cost
a. Inventory, December 31, 2012		4,000	$	20
For the year 2013:
b. Purchase, March 5		10,000		21
c. Purchase, September 19		6,000		23
d. Sale, April 15 (sold for $65 per unit)		4,500
e. Sale, October 31 (sold for $68 per unit)		9,000
f. Operating expenses (excluding income tax expense), $615,000

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) weighted average cost. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount.)

4.	Prepare an income statement that shows 2013 amounts under the FIFO method, LIFO method and weighted average method. (Loss amounts should be indicated with a minus sign. Do not round intermediate calculations. Round your final answers to the nearest dollar amount.)