Will you please help me with this financial accounting hw question?
4 Units 4,000 Cost $14 Transactions a. Inventory, Beginning For the year: b. Purchase, March 5 c. Purchase, September 19 d. Sale, April 15 (sold for $59 per unit) e. Sale, October 31 (sold for $62 per unit) f. Operating expenses (excluding income tax expense), $606,000 15 17 10,000 6,000 4,300 9,000 3.12 points Required: eBook 11 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, and (c) weighted average cost. 4. Prepare an income statement that shows the FIFO method, LIFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? Hint Print Complete this question by entering your answers in the tabs below. References Required 1 Required 2 Required 3 Required 4 Required 6 Calculate the number and cost of goods available for sale. 20,000 units Number of Goods Available for Sale Cost of Goods Available for Sale $ 308,000 4 Units 4,000 Cost $14 Transactions a. Inventory, Beginning For the year: b. Purchase, March 5 c. Purchase, September 19 d. Sale, April 15 (sold for $59 per unit) e. Sale, October 31 (sold for $62 per unit) f. Operating expenses (excluding income tax expense), $606,000 15 17 10,000 6,000 4,300 9,000 3.12 points Required: eBook co Hint 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, and (c) weighted average cost. 4. Prepare an income statement that shows the FIFO method, LIFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? Print Complete this question by entering your answers in the tabs below. andere References Required 1 Required 2 Required 3 Required 4 Required 6 Calculate the number of units in ending inventory. Ending Inventory 6,700 units 4 Scoresby Inc. tracks the number of units purchased and sold throughout each year but applies its inventory costing method at the end of the year, as if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31. 3.12 points Units 4,000 Unit Cost $14 Transactions a. Inventory, Beginning For the year: b. Purchase, March 5 c. Purchase, September 19 d. Sale, April 15 (sold for $59 per unit) e. Sale, October 31 (sold for $62 per unit) f. Operating expenses (excluding income tax expense), $606,000 15 17 10,000 6,000 4,300 9,000 eBook Hint Required: Print 1. Calculate the number and cost of goods available for sale. 2. Calculate the number of units in ending inventory. 3. Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, and (c) weighted average cost. 4. Prepare an income statement that shows the FIFO method, LIFO method and weighted average method. 6. Which inventory costing method minimizes income taxes? References Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Which inventory costing method minimizes income taxes? OFIFO OLIFO Weighted Average (Required 4 Required 6
