SD&A expenses

Required information [The following information applies to the questions displayed below] Complete the requirements for each of the foliowing independent cases Tompkins Company reports the following inventory record for November. Selling, administrative, and depreciation expenses for the month were $14.700. Tompkins's effective tax rate is 40 percent. Required: 1. Calculate the cost of ending inventory and the cost of goods sold under each of the following methods using periodic inventory system 2-a. What is the gross profit percentage under the FIFO method? 2-b. What is net income under the LIFO method? 3. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of the month. Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $1700 per unit, whot would Tompkins report on the balance sheet for inventory? Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Calculate the cost of ending inventory and the cost of goods sold under each of th system: (Do not round intermediate calculations.) Complete this question by entering your answers in the tabs below. a. What is the gross profit percentage under the FIFO method? (Round your percen 0.1234 should be entered as 12.34).) b. What is net income under the LIFO method? Required: 1. Calculate the cost of ending inventory and the cost of goods sold under each of the following methods using periodic inv system: 2-a. What is the gross profit percentage under the FIFO method? 2-b. What is net income under the LIFO method? 3. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of the mont Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $17.00 per unit, what wou Tompkins report on the balance sheet for inventory? Complete this question by entering your answers in the tabs below. Tompkins applied the lower of cost or market method to value its inventory for reporting purposes at the end of the month. Assuming Tompkins used the FIFO method and that inventory had a market replacement value of $17.00 per unit, what would Tompkins report on the balance sheet for inventory