Question: I am having trouble completing the table, I can't seem to go past operating costs. Could you please help me out? fRequired information E7-11 (Algo)
I am having trouble completing the table, I can't seem to go past operating costs. Could you please help me out?


\fRequired information E7-11 (Algo) Evaluating the Choice among Three Alternative Inventory Methods Based on Income and Cash Flow Effects LOT-2, 7-3 [The following information applies to the questions displayed below] Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise inventory (ending inventory December 31, prior year), 2,130 units at $37; purchases, 7,820 units at $39; expenses (excluding income taxes), $193,500; ending inventory per physical count at December 31, current year, 1,680 units; sales, 8,270 units; sales price per unit, $79; and average income tax rate, 32 percent. E7-11 Part 1 Required: 1-a. Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods. 1-b. Prepare income statements under the FIFO, LIFO, and average cost inventory costing methods
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