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Scoresby Incorporated 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, 11 Transactions Units Unit Cost A. Inventory, Beginning 4,000 $ 10 For the years b. Purchase, March 10,000 e. Purchase, September 19 6,000 13 d. Sale, April 15 (sold for 655 per unit) 4,500 e. Bute, October 31 (old for 658 per unit) 9,000 1. Operating expensee (excluding income tax expense), $615,000 Required: 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? Answer is not complete Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Requireng Required 6 Tequired 4 Compute the cost of ending inventory and cost of goods told under () FIFO, () LIFO, and (c) weighted average cost. FIFO LIFO Weighted Average Cost Cost of Ending Inventory $ 83,500 $ S 67,500 74.100 $ Cost of Goods Sold 144,500 160,500 228,000

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