Tableau DA 5-5 (Static): Mini-Case, Periodic: Income effects of LIFO and FIFO LO P3, A1 ATV Company began operations on March 1 and uses a periodic inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard. Sunday Monday Legend No Purchases or Sales Purchases Sales NAM Tuesday 12 March Wednesday Thursday 25 Friday # 15 22 Purchase 100 units $50 each Saturday 23 BON

Tableau DA 5-5 (Static): Mini-Case, Periodic: Income effects of LIFO and FIFO LO P3, A1 ATV Company began operations on March 1 and uses a periodic inventory system. It entered into purchases and sales for March as shown in the Tableau Dashboard March Tuesday Wednesday Thursday Wednesday Thursday Friday saturday No Purchases or Sales Purchases Sales March 10 11 12 13 14 +15 16 17 19 20 42 25 24 25 23 90 Purchase 200 units 562 each 31 1. The CEO has asked you to help her decide whether to use LIFO or ArO for imventory costing Compute the grass protit eamed by. the company for both LIFO and FFO 2. The CEO's bonin is calculated using net income betore incorpe taves if the CFO whes to maxime her bonus, which of the following methods would you recominend? 3. Allernatively, the CEO desires the method that minimutes income taves poid by the coomany in the curtent year if income taxes are based on a percentage of ner income, which method would you recommend ta the CFo? Complete this question by entering your answers in the tabs below