XYZ Company

Beginning Inventory: 0

January 3rd: 150 (units) - $15 a piece

January 12: 200 (units) - $20 a piece

January 20th: 250 (units) - $20 a piece

January 25th: 300 (units) - $30 a piece

(January 3rd to 25th are purchases)

Ending Inventory: 100 units

Requirements:

1. Calculate the ending inventory and COGS in dollars using FiFo

2. Calculate the ending inventory and COGS in dollars using LiFo

3: Calculate for the weighted average

4. Income Statement for the three methods

Tax Rate - 28%

Company Sells - 40 a unit

Monthly Operating Unit - 1,120

All the way down to Net Income

Thank You! I hope it's elaborate enough.