The following information is available for De Bruyne Company for the month of January and De Buyne uses (1) average method under the perpetual system, and/or (2) LIFO cost flow assumption under the periodic system

Number of units Unit Cost/Price($)

Beginning Inventory (January 1) 450 40

Purchase (January 10) 600 45

Sale (January 13) 350 72

Purchase (January 28) 300 48

Sale (January 30) 400 74

What is cost of goods sold for January using the two different cost flow assumptions?

Average Cost And Perpetual system LIFO and periodic system

i)$30,021 28,576

ii)31,576 32,760

iii)32,761 34,650

iv)35,963 36,020

A.i

B.ii

C.iii

D.iv

What is ending inventory on January 31 using the two different cost flow assumptions?

Average Cost And Perpetual system LIFO and periodic system

i)$26,640 24,750

ii)27,824 26,640

iii)29,370 27,824

iv)23,437 29,380

A.i

B.ii

C.iii

D.iv

What is the amount of tax savings (after rounding) for January id De Bruyne uses LIFO periodic instead of average cost perpetual, assuming that the effective tax rate is 25%?

a. $296

b. 472

c. 888

d. 1,417

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