50.1K

Verified Solution

Link Copied!

please andwer ALL 20 parts

Answer all 20 parts!

answer All 20 parts!

this is the entire question please answer each part as depicted

Regelweg Bejews hochwertinand he FO Para Bord To Une To Date Quanty Det Qay CE Cet 1 TOLO 3 Tary Boerefore 2. www & Who What Requirements Tohle Pent Done Clear Check Awwer e Text Pages Calculator Get More Help Requirement 1. Prepare a perpetual inventory record for Ticking Time using the FIFO, LIFO, and weighted-average inventory costing methods. Begin by preparing a perpetual inventory record using FIFO. Start by entering the beginning inventory balances. Enter the transactions in chronologica into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Entert FIFO: Purchases Unit Total Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Cost Cost Date Quantity Jun. 1 3 Requiremen 16 1. Prepare a per and weighted 2. Journalize all costing metho Explanations 3. Show the con 4. Which method taxes? 23 Totals med-average inventory costing methods, mlances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered and on hand at the end of the period. (Enter the oldest inventory layers first.) yon Hand Init Total Cost Cost Requirements 1. Prepare a perpetual inventory record for Ticking Time using the FIFO, LIFO. and weighted average inventory costing methods. 2. Joumalize all of Ticking Time's inventory transactions for June under all three costing methods. Assume all sales and purchases are on account. Explanations are not required. 3. Show the computation of gross profit for each method, 4. Which method maximizes net incomo? Which method minimizes income taxes? Print Done More Info Jun. 3 Sold 10 units for $150 each. Jun. 16 Purchased 15 units at $70 each. Jun. 23 Sold 12 units for $150 each. Print Done Regelweg Bejews hochwertinand he FO Para Bord To Une To Date Quanty Det Qay CE Cet 1 TOLO 3 Tary Boerefore 2. www & Who What Requirements Tohle Pent Done Clear Check Awwer e Text Pages Calculator Get More Help Requirement 1. Prepare a perpetual inventory record for Ticking Time using the FIFO, LIFO, and weighted-average inventory costing methods. Begin by preparing a perpetual inventory record using FIFO. Start by entering the beginning inventory balances. Enter the transactions in chronologica into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Entert FIFO: Purchases Unit Total Cost of Goods Sold Unit Total Quantity Cost Cost Inventory on Hand Unit Total Quantity Cost Cost Cost Cost Date Quantity Jun. 1 3 Requiremen 16 1. Prepare a per and weighted 2. Journalize all costing metho Explanations 3. Show the con 4. Which method taxes? 23 Totals med-average inventory costing methods, mlances. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered and on hand at the end of the period. (Enter the oldest inventory layers first.) yon Hand Init Total Cost Cost Requirements 1. Prepare a perpetual inventory record for Ticking Time using the FIFO, LIFO. and weighted average inventory costing methods. 2. Joumalize all of Ticking Time's inventory transactions for June under all three costing methods. Assume all sales and purchases are on account. Explanations are not required. 3. Show the computation of gross profit for each method, 4. Which method maximizes net incomo? Which method minimizes income taxes? Print Done More Info Jun. 3 Sold 10 units for $150 each. Jun. 16 Purchased 15 units at $70 each. Jun. 23 Sold 12 units for $150 each. Print Done

Answer & Explanation Solved by verified expert

See Answer