Scoresby Inc. uses a perpetual inventory system. At December 31, 2018, the company's accounting records provided...

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Scoresby Inc. uses a perpetual inventory system. At December 31, 2018, the company's accounting records provided the following information for Product B: Transactions a. Inventory, December 31, 2017 For the year 2018: b. Purchase, March 5 Units Unit Cost 7,000 $ 8 19,000 9 10,000 d. Purchase, September 19 8,000 11 e. Sale, November 20 ($31 each) 16,000 f. Operating expenses (excluding income tax expense), $500,000 c. Sale, June 15 ($29 each) Required: 1. Prepare a statement of earnings for 2018 through pretax earnings, showing the detailed computation of cost of sales for two cases: (Round intermediate calculations to 2 decimal places.) a. Case A-FIFO b. Case B-Weighted average. Beginning inventory Cost of sales: SCORESBY, INC. Statement of Earnings (Partial) For the Year Ended December 31, 2018 Case A FIFO Purchases 171,000 Purchases 88,000 Goods available for sale 259,000 Ending inventory Case B Weighted Average $ 56,000 $ 56,000 259,000 171,000 88,000 259,000 259,000 Scoresby Inc. uses a perpetual inventory system. At December 31, 2018, the company's accounting records provided the following information for Product B: Transactions a. Inventory, December 31, 2017 For the year 2018: b. Purchase, March 5 Units Unit Cost 7,000 $ 8 19,000 9 10,000 d. Purchase, September 19 8,000 11 e. Sale, November 20 ($31 each) 16,000 f. Operating expenses (excluding income tax expense), $500,000 c. Sale, June 15 ($29 each) Required: 1. Prepare a statement of earnings for 2018 through pretax earnings, showing the detailed computation of cost of sales for two cases: (Round intermediate calculations to 2 decimal places.) a. Case A-FIFO b. Case B-Weighted average. Beginning inventory Cost of sales: SCORESBY, INC. Statement of Earnings (Partial) For the Year Ended December 31, 2018 Case A FIFO Purchases 171,000 Purchases 88,000 Goods available for sale 259,000 Ending inventory Case B Weighted Average $ 56,000 $ 56,000 259,000 171,000 88,000 259,000 259,000