Where can i find the answer to P6-5A

Why Ajust 15; and Instructions (b) Calculaneering inventory cost of poods solid gross profit and gross profit rate ander periodic method COM (LO 2, 3) (3) Which cost flow method (FIFO or LIFO) is more likely to approximate the acha physical flow of goods? Why? (4) How much more cash will be available for management under LIFO than ure FIFO? Why? (5) Will gross profit under the average cost method be higher or lower than FIFOS Than LIFO (Note: It is not necessary to quantify your answer.) P6-5A You are provided with the following information for Najera Inc. for the month ended June 30, 2014. Najera uses the periodic method for inventory. Unit Cost or Description Quantity Selling Price June 1 Beginning inventory 40 $40 June 4 Purchase 135 44 June 10 Sale 110 70 June 11 Sale return 15 70 June 18 Purchase 55 46 June 18 Purchase return 10 46 June 25 Sale 65 75 June 28 Purchase 30 50 (a) Prepare comparative cone (Show computations of en Answer the follo (1) Which inventory cos amount for the balan (2) Which inventory cos Why? (3) Which inventory cos flow of the goods? (4) How much addition Date under FIFO? Why? (5) How much of the gr profit under LIFO? *P6-8A Mercer Inc. is a reta inventory method. All sales Inventory: the inventory is nu amounts are settled in cash Inc. for the month of Januar (a) G Gross profit LIFO 54,215 FIFO $4,645 Average $4,414.60 Instructions (a) Calculate (i) ending inventory. (i) cost of goods sold, (iii) gross profit, and (iv) gruss profit rate under each of the following methods. (1) LIFO (2) FIFO. (3) Average-cost. (b) Compare results for the three cost flow assumptions. PG-GA You are provided with the following information for Barton Inc. Barton Inc uses the periodic method of accounting for its inventory transactions. Compare specific identifica tion, FIFO, and LIFO sender Date January 1 January 5 B P