thank you ill give you a thumbs up!

PB7-1 (Algo) Analyzing the Effects of Four Alternative Inventory Methods in a Periodic Inventory System [LO 7-3) Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system Assume its accounting records provided the following Information at the end of the accounting period, January 31 The inventory's selling price is $16 per unit Dit Transaction cont de fotos Tevestory, Santasy 310 1.360 sale, January 10 1260) Purchase. January 12 5.50 360 2,340 Sale, January 17 (160) Purchase, January 26 7.50 30 60 Required: 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 under each of the following Inventory costing methods a. Weighted average cost b. First in, first-out c. Last-in, first-out d. Specific identification, assuming that the January 10 snie was from the beginning inventary and the January 17 sale was from the January 12 purchase 2.a. Of the four methods, which will result in the highest gross profe? 2.b. Of the four methods, which will result in the lowest income taxett? Complete this question by entering your answers in the tabs below. Rec 24 Reg 20 2 B 3 5 W R T Y 0 S D F G H K B N M M 36 GO command Required: 1. Compute the amount of goods available for sale, ending Inventory, and cost of goods sold at January 31 under each of the following inventory costing methods: a. Weighted average cost b. First-o, first-out c. Lasteln, first-out d. Specific identification, assuming that the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase 2-a. Of the four methods, which will result in the highest gross pront? 2.b. Of the four methods, which will result in the lowest income times? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A Red 26 Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 under each of the Inventory costing methods. (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Amount of Good Cost of Goods Available for Sale Ending inventory Sold Weighted average cou! First-festo + c. Lai tout Specific identification Reg 2 > 3 2 5 7 8 9 E R. T . 7 3 9 w E R T Y s D F G H K Z C B N M A command neye. 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 und Inventory costing methods: a. Weighted average cost. b. First in, first-out c. Last-In, first-out. d. Specific identification, assuming that the January 10 sale was from the beginning inventory and the Januan January 12 purchase 2-a. Of the four methods, which will result in the highest gross profit? 2-b. Of the four methods, which will result in the lowest income taxes? Complete this question by entering your answers in the tabs below. Reg 1 Reg 2A 9 28 Of the four methods, which will result in the lowest income taxes? Weighted average cost First-in, first-out Last-in, first-out Specific identification 2 w 4 5 G 8 2 W E R T Y 4 S D F G H J E7-11 Reporting Inventory at Lower of Cost or Market/Net Realizable Value [LO 7-4] (The following information applies to the questions displayed below) Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending in about the five major items stocked for regular sale follows: E7-11 Part 1 Required: 1-a. Complete the table column "Write-Down per Item" and then sum the final column. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Complete the table column "Write-Down per Item" and then sum the ninal column. Weite-down per item Total Write- down Item Alligator Armoires Ben Bureaus Cougar Credenzas Dingo Cribs Elephant Dressers Unit Cost NRV per (FIFO) Item $ 60 $ 55 45 45 24 30 38 38 45 37 Quantity on Hand 70 45 50 40 65 Reg 10 3 10 6 7. 8 W E R. T F G . E7-11 Reporting Inventory at Lower of Cost or Market/Net Realizable Value [LO 7-4) [The following information applies to the questions displayed below.) Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inve about the five major items stocked for regular sale follows: 7-11 Part 1 Required: -a. Complete the table column "Write-Down per Item" and then sum the final column. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. Complete this question by entering your answers in the tabs below. Req 1A Reg 1B Compute the amount of the total write-down when the LCM/NRV rule is applied to each item, Total amount of write down Req1A 2 1 3 4 5 G 7 8 E 20 T U about the five major items stocked for regular sale follows: E7-11 Part 2 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its invento entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record Inventory write down to LCM/NRV Note: Enter debits before credits General Journal Debit Credit Date December 31 Record entry Clear entry View general Journal al NE 3 5 4 6 7 8 W E R T . S F D G B. N M Homework E7-13 (Algo) Reporting Inventory at Lower of Cost or Market/Net Realizable Value [LO 7-4) Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory information about the five major items stocked for regular sale follows: Required: 1-a. Complete the table column "Write-Down per item and then sum the final column. 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its inventory to LCMNRV Complete this question by entering your answers in the tabs below. RELA Reg 13 Reg 2 Complete the table column "Write-Down per Item and then sum the final column tum Quantity on Hand Total Write dow pertem 95 Alligator Armoires Bear Bureaus Cougar Creden Dingo Cribs Elephant Dresses Un Coat NRV per Write-down FO $ 505 455 5 43 43 45 59 22 22 0 53 us 5 50 45 10 75 Regis> B N M N 06 command 5 E7-13 (Algo) Reporting Inventory at Lower of Cost or Market/Net Realizable Value [LO 7-4) Peterson Furniture Designs is preparing the annual financial statements dated December 31. Ending inventory informou five major items stocked for regular sale follows: Required: 1-a. Complete the table column "Write-Down per Item" and then sum the final column. 1-b. Compute the amount of the total write down when the LCMNRV rule is applied to each item, 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its inventory to ok Complete this question by entering your answers in the tabs below. Reg 1A Reg 16 Reg Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. rences Total amount of recown Rea 1 Reg 2 > B N M 1-b. Compute the amount of the total write-down when the LCM/NRV rule is applied to each item. 2. Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 2 Prepare the journal entry Peterson Furniture Designs would record on December 31 to write down its invento is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet 1 Record Inventory write down to LCM/NRV. Note: Enter debits before credits General Journal Debit Credit Date December 31