Wayman Corporation reports the following amounts in its December 31, 2021, Income statement Sales revenue Interest expense Salarles expense Utilities expense $460,00 Income tax expense 38,680 Cost of goods sold se.ee Advertising expense 60,000 $ 60,000 148,888 48,800 Required: Prepare a multiple-step Income statement. WAYMAN CORPORATION Multiple-step Income Statement For the year ended December 31, 2021 Sales revenue $ 460,000 Cost of goods sold 140.000 $ 320,000 Gross profit Salaries expense Utilities expense Advertising expense 50.000 60.000 40.000 Total operating expenses Operating income Interest expense 150.000 170.000l 30.000 Income before income taxes Income the expense Required Information [The following information applies to the questions displayed below] Tisdale Incorporated reports the following amount in its December 31, 2021. Income statement Sales revenue Non-Operating revenue Selling expenses General expenses $320, 68e 114,82e 64.880 54,80 Income tax expense Cost of goods sold Administrative expenses $ 34. 194,cae 44,820 Required: 1. Prepare a multiple-step Income statement. (Losses should be indicated by a minus sign.) TISDALE INCORPORATED Multiple-step Income Statement For the year ended December 31, 2021 Total operating expenses Operating income (loss) Required information The following Information applies to the questions displayed below. During the year, TRC Corporation has the following Inventory transactions Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase Number of Units Unit Cost $ se 52 55 56 Total Cost 2.990 7. 176 11.449 6.608 $28. 124 214 For the entire year, the company sells 444 units of Inventory for $68 each. Required: 1. Using FIFO, calculate ending Inventory, cost of goods sold, sales revenue, and gross profit. FIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Cost per Goods E of units #of units Cost per Cost of Goods Available for Sale $ 2.900 unit Cost Ending of units per unit Inventor unit Sold 58 $ 50 58 $ 50 $ 2.900 7.178 Beginning Inventory Purchases: Apr. 7 Jul.16 Oct 8 Total 138 $ 2087 $ 1187 $ 522 527.176 55 11.4401 581 6.608 | $ 28.124 138 $ $ $ 52 55 58 | $ 30,192 Sales revenue Gross profit Required Information The following information applies to the questions displayed below.) During the year, TRC Corporation has the following Inventory transactions. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase Number of Units Unit Cost Total Cost $ 50 $ 2,980 7.176 11.440 6,688 $28. 124 For the entire year, the company sells 444 units of Inventory for $68 each. 2 Using LIFO, calculate ending Inventory.cost of goods sold, sales revenue and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost per # of units unit Cost of Goods Available for Sale # of units Cost per Cost of Goods Sold # of units Cost Ending per unit Inventory unit Beginning Inventory Purchases: Apr 07 Jul 16 Oct 08 Total of Sales revenue Gross profit Required information The following information applies to the questions displayed below] During the year, TRC Corporation has the following Inventory transactions Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units Unit Cost Total Cost $ se $ 2.98 7,176 55 11.449 6.688 $28.124 For the entire year, the company sells 444 units of Inventory for $68 each. 3. Using weighted average cost, calculate ending Inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 4 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Cost of Goods Sold - Weighted Average Cost Ending Inventory - Weighted Average Cost Weighted Average Cost Cost of Goods Available for # of units Cost of Cost per unit # of units of units Sold Cost per Unit in Ending Cost per unit Goods Sold Ending Inventory Sale Inventory 58 2.900 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 08 Total 138 208 118 522 7,178 11,440 6,608 T s 28,124 II I Sales revenue Gross profit Required information The following information applies to the questions displayed below] During the year, TRC Corporation has the following Inventory transactions 58 Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul. 16 Purchase Oct. 6 Purchase 52 Number of Units Unit Cost Total Cost s se $ 2,90e 7. 176 11.440 6.688 $28,124 208 55 For the entire year, the company sells 444 units of Inventory for $68 each. 4. Determine which method will result in higher profitability when Inventory costs are rising. Looo Weighted average Required information [The following Information applies to the questions displayed below) During the year. Trombley Incorporated has the following Inventory transactions. Number of Units Unit Cost $ 15 Total Cost $ 195 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 299 253 For the entire year, the company sells 61 units of Inventory for $23 each. Required: 1. Using FIFO. calculate ending Inventory.cost of goods sold, sales revenue and gross profit. FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of its Cost per Goods Available for Sale of units of units Cost per Cost of Goods of units Cost Ending # of units per unit Inventors unit unit Sold 0f $ 0 of Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total 0 5 of Sales revenue Greenfie Required information (The following information applies to the questions displayed below.] During the year, Trombley Incorporated has the following Inventory transactions. Number of Units Unit Cost $ 15 Total Cost $ 195 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 252 299 253 $999 For the entire year, the company sells 61 units of Inventory for $23 each. 2. Using LIFO, calculate ending Inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of Goods unit for Sale #of units Cost per of units Cost per Cost of Goods Sold # of units Available unit Cost Ending per unit Inventory Beginning Inventory Purchases Mar 04 Jun 09 Nov 11 Total 0 $ of Sales revenue Gross profit Required Information [The following information applies to the questions displayed below) During the year, Trombley Incorporated has the following Inventory transactions. Number of Units Unit Cost Total Cost $ 195 $ 15 Date Transaction Jan. 1 Beginning inventory Mar. 4 Purchase Jun. 9 Purchase Nov. 11 Purchase 253 $ 999 For the entire year, the company sells 61 units of Inventory for $23 each. 3. Using weighted average cost, calculate ending Inventory.cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Cost of Goods Available for Sale Weighted Average Cost Average Cost of Goods # of units Cost per Available for unit Sale Cost of Goods Sold - Weighted Ending Inventory - Weighted Average Average Cost Cost of units Average Average # of units Cost of Ending Cost per Goods Sold in Er Cost per Sold Unit Inventory Inventory unit Goods Sold in Ending 793 Beginning Inventory Purchases: Mar 4 Nov 11 Total Sales revenue Gross profit