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Onon Contacteer of purchased and so toughout each year thesis inventory costing method at the end of the periode vystom Acts accounting records provided the owing informational prod. December wry. he anche Serwitt) Sleuter) cap. 1.400 w 70 100 1 Cate the number and cost of goods available for sale 2. Calculate the number of unitsmending inventory a. Compute the cost of enig wory and cost of goods sold under FO UFO and weighted average cost 4. Prepare an income statement that shows under their method. Omethod and weighted average method 6. Whentory cosing method is incontes Complete this gestion by entering your answers in the tabs below. Red ged Calidate the number and cost of goods we for sale Nords Cod Alo 750 B at the end of the year, as it it uses a periodic Inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 Transactions Units Unit Cost a. Inventory, beginning 515 For the year b. Purchase, April 11 850 14 c. Purchase, June 1 16 d. Sale, May 1 (sold for $43 per unit) 600 e. Sale, July 3 (sold for 43 per unit) 650 f. Operating expenses (excluding income tax expense), $16,400 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 () FIFO, (b) LIFO, and (c) weighted average cost 4. Prepare an income statement that shows under the FIFO method, LIFO method and weighted average method 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Calculate the number of units in ending inventory Ending inventory units 15 50 Menteri For the years b. Purchase, April 11 c. Purchase, une 1 d. Sale. My 1 (sold for $2 pert) 6. Sale, Duly (sold for su pert) f Operating expenses (excluding income taxpense). 518,400 14 TH 650 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 FIFO (LIFO, and (c) weighted average cost 4. Prepare an income statement that shows under the FIFO method, LIFO method and weighted average method 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required Required 2 Required Required 4 Required Compute the cost of ending inventory and cost of goods sold under (a) Faro, (b) uro, and (c) weighted average cost. (De not round intermediate calculations Rind your final answers to the nearest dollar amount.) Cost of Ending Cost of Goods Inventory Sold FO LIFO Weighted Average Cost (Required 2 Required 4 > 3. Compute the cost of ending inventory and cost of goods sold under() FIFO. COLIFO and e weighted average cost 4. Prepare an income statement that shows under the FIFO method. UFO method and weighted average method 6. Which inventory costing method minimes income taxes? Complete this question by entering your answers in the tabs below. Required Required ? Ringowed 3 Required Required 6 Prepare an Income Statement that shows under the FIFO method, LIFO method and weighted average method ORION BRON CORPORATION Income Statement For the Year Ended December 31 FIFO LIFO Welged Average ncome from operations 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, UFO, and (c) weighted average cost 4. Prepare an income statement that shows under the FIFO method, LIFO method and weighted average method 6. Which inventory costing method minimizes income taxes? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Required 4 Required 6 Which inventory costing method minimizes income taxes? OFIFO OLIFO Weighted Average (Required 4 Roured