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.

Transactions	Units			Unit Cost
a. Inventory, Beginning		4,000		$	10
For the year:
b. Purchase, March 5		10,000			11
c. Purchase, September 19		6,000			13
d. Sale, April 15 (sold for $55 per unit)		4,500
e. Sale, October 31 (sold for $58 per unit)		9,000
f. Operating expenses (excluding income tax expense), $615,000

Required:

1. 1. Calculate the number and cost of goods available for sale
2. 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, and (c) weighted average cost.
3. 4. Prepare an income statement that shows the FIFO method, LIFO method and weighted average method.
4. 

Required 1 Required 2 Required 3 Required 4 Required 6 Compute the cost of ending inventory and cost of goods sold under (a) FIF Cost of Ending Cost of Goods Inventory Sold FIFO LIFO Weighted Average Cost units Number of Goods Available for Sale Cost of Goods Available for Sale SCORESBY INC. Income Statement For the Year Ended December 31 FIFO LIFO Weighted Average Income (Loss) from Operations