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Use the following to answer questions 1 - 6 Case 4 ? Beginning inventory Ending inventory Purchases Cost of goods sold Case 1 $31,200 ?

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Use the following to answer questions 1 - 6 Case 4 ? Beginning inventory Ending inventory Purchases Cost of goods sold Case 1 $31,200 ? 489,700 507,800 Case 2 $98,400 66,300 ? 668,400 Case 3 $75,300 55,400 535,300 ? 18,400 664,400 687,300 1. $ 2. $ 3. $ 4. $ For case 1, determine goods available for sale For case 1, determine ending inventory For case 2, determine goods available for sale For case 2, determine Purchases For case 3, determine cost of goods sold For case 4, determine beginning inventory 5. $ 6. $ Use the following to answer questions 7 - 17 During September, AUD Company sells 972 mountain bikes for $2,350 each. The company has the following inventory purchase transactions for September: Date Transaction # of Units Unit cost Total Cost 1-Sep Beginning Inventory 150 $1,250 $187,500 7-Sep Purchase 350 $1,255 439,250 19-Sep Purchase 500 $1,257 628,500 1,000 $1,255,250 7.SI What were company's sales revenue for the period? For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation. For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation 8. $ 9. $ Calculate ending inventory (FIFO) Calculate cost of goods sold (FIFO) 10. $ Calculate gross profit (FIFO) For questions 11 - 13 assume the company uses Last-in, First-out (LIFO) inventory valuation 11. $ Calculate ending inventory (LIFO) 12. $ Calculate cost of goods sold (LIFO) 13. $. Calculate gross profit (LIFO) Use the following to answer questions 22-29 GHT Corporation reports the following amounts in its December 31, 20XD income statement: Net sales Utilities expense Sales discounts Advertising expense $970,500 Cost of goods sold 23,400 Interest revenue 12,500 Salaries expense 251,000 Effective income tax rate $394,100 11,000 264,700 30% 1 22. $ Determine Sales 23. $ Determine gross profit 24. $ Determine operating expenses 25. $ Determine Income before income taxes (IBT) 26. $ Determine Income tax expense 27. $ Determine net income 28 % Calculate gross profit ratio (round to one decimal place) 29 Comparing GHT's common sized Income statement with its competitor. The competitor's g margin is 43.6%, which company is doing better? English (United States) Focus 9 ee MacBook Air so 888 FA ga FY be FO # 3 $ 4 % 5 6 & 7 8

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