E7-2 (Algo) Inferring Missing Amounts Based on Income Statement Relationships L07-1 Enter the missing dollar amounts for the income statement for each of the following independent cases. (Hint: In Case B, work from the bottom up) Caso B Case C 7,580 $ 6,130 Case A $ 11,100 4,840 $ $ 6,600 $ 3,970 9,310 13,280 Net sales revenue Beginning inventory Purchases Goods available for sale Ending inventory Cost of goods sold Gross profit Expenses Pretax income (loss) 15,200 10,980 10,290 4,440 1,330 260 1,670 $ $ (430) $ 1,040 E7-3 (Algo) Inferring Missing Amounts Based on Income Statement Relationships LO7-1 Enter the missing dollar amounts for the income statement for each of the following independent cases: Total Available Ending Inventory Cost of Goods Sold Gross Profit Expenses Pretax Income (Loss) $ 520 $ 300 B Sales Beginning Revenue Purchases Inventory S 1,800 $ 250 $ 1,600 1,540 120 1,280 170 990 740 1,360 1,020 160 690 310 240 290 280 180 120 D 270 E 1,270 650 (20) E7-5 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average Cost LO7-2 Nittany Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 1: Units 1,850 Unit Cost $4 Inventory, December 31, prior year For the current year: Purchase, March 21 Purchase, August 1 Inventory, December 31, current year 5,170 2,910 4,040 Required: Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. (Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount.) FIFO LIFO Average Cost Ending inventory Cost of goods sold