Scoresby Incorporated trocks 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. Required: 1. Calculate the number and cost of goods avaliable 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. 4. Prepare an income statement that shows the FIFO method, LiFO method and weighted average method. 6. Which invertory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Calculate the number of units in ending inventory. Scoresby incorporated 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. Required: 1. Calculate the number and cost of goods avaliable 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. 4. Prepare an income statement that shows 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. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LFO, and (c) weighted average cost. Scoresby Incorporated tracks the number of units purchased and soid 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 . 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 imventory and cost of goods sold under (a) FIFO, ( (0) LIFO, and (c) weighted average cost. 4. Prepare an income statement that shows 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. Calculate the number and cost of goods available for sale. Scoresby incorporated tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the yeat, as if it uses a periodic imventory system. Assume its accounting records provided the following informotion at the end of the annubl accounting period, December 31. Required: 1. Calculate the number and cost of goods avaliable 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) UFO, and (c) weighted average cost 4. Prepare an income statement that shows the FFO method, UFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Which inventory costing method minimizes income taxes? Scoresby Incorporated 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. 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) weighted average cost. 4. Prepare an income statement that shows 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. Prepare an income statement that shows the FIFO method, UFO method and weighted average method
