Question

Prepare a table with four columns that shows the ending inventory and cost of goods sold for each of the results from your calculations in SE2 through SE5, including the effects of the different prices at which the merchandise was purchased. Which method(s) would result in the lowest income taxes?
In SE2, Assume the following data with regard to inventory for Vegan Company:


In SE5, Using the data in SE2, calculate the cost of ending inventory and cost of goods sold according to the LIFO method under the periodic inventorysystem.


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  • CreatedMarch 26, 2014
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