Unit Units 4,888 $26 . Inventory, Beginning For the year b. Purchase, March 5 c....
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Unit Units 4,888 $26 . Inventory, Beginning For the year b. Purchase, March 5 c. Purchase, September 19 d. Sale, April 15 (sold for $71 per unit) e. Sale, October 31 (sold for $74 per unit) f. Operating expenses (excluding incone tax expense), $594,888 16,808 27 6,888 29 4,188 9,800 Required: 1. Calculate the number and cost of goods avallable for sale. 2 Calculate the number of unlts In ending Inventory 3. Compute the cost of ending Inventory and cost of goods sold under (a)FIFO, (b)LIFO, and (c) welghted average cost. 4. Prepare an Income statement that shows the FIFO method, LIFO method and welghted average method. 6. Which Inventory costing method minimizes Income taxes? Complete this question by entering your answers in the tabs below. Required 1Required 2 Required 3 Required 4 Required 6 Compute the cost of ending inventory and cost of goods sold under (a) FIFO, (b) LIFO, and (c) weighted average cost. of Ending of Cos Sold 5 349,600 FIFO LIFO Weighted Average Cost Required 2 Required 4 >
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