| Total 91.00 Inputs Units purchased Purchase cost per unit [in cash] Units sold Selling price per unit [in cash] Tax rate Y1 5.00 1.00 3.00 2.00 25.00% Y2 6.00 3.00 4.00 4.00 # # # # Y3 7.00 4.00 5.00 6.00 # # # # Y4 8.00 5.00 14.00 8.00 # # # # 164.00 25.00% Y1 Y2 Y3 Y4 Check 164.00 Do manual calculations for this row Do manual calculations for this row Do manual calculations for this row Do manual calculations for this row 0.00 -91.00 0.00 0.00 0.00 FIFO Income statement Revenue Expensed from Y1 purchases Expensed from Y2 purchases Expensed from Y3 purchases Expensed from Y4 purchases = COGS = Earnings before taxes Tax expense [in cash] = Net income Balance sheet Cash Layer 1: Costs remaining to be expensed from Y1 Layer 2: Costs remaining to be expensed from Y2 Layer 3: Costs remaining to be expensed from Y3 Layer 4: Costs remaining to be expensed from Y4 = Total inventory Retained earnings Check Y1 Y2 Y3 Y4 100.00 Do manual calculations for this row Do manual calculations for this row Do manual calculations for this row Do manual calculations for this row 0.00 0.00 0.00 0.00 0.00 100.00 LIFO Y1 Y2 Y3 Y4 Check -164.00 Do manual calculations for this row Do manual calculations for this row Do manual calculations for this row Do manual calculations for this row -91.00 0.00 0.00 0.00 0.00 Income statement Revenue Expensed from Y1 purchases Expensed from Y2 purchases Expensed from Y3 purchases Expensed from Y4 purchases = COGS = Earnings before taxes Tax expense [in cash] = Net income Balance sheet Cash Layer 1: Costs remaining to be expensed from Y1 Layer 2: Costs remaining to be expensed from Y2 Layer 3: Costs remaining to be expensed from Y3 Layer 4: Costs remaining to be expensed from Y4 = Total inventory Retained earnings Check Y1 Y2 Y3 In Y4 100.00 Do manual calculations for this row Do manual calculations for this row Do manual calculations for this row Do manual calculations for this row 0.00 0.00 0.00 0.00 0.00 100.00 Year 1 Year 2 Year 3 Year 4 FIFO: Income statement Sales COGS Tax expense FIFO: Balance sheet Cash Inventories Retained earnings FIFO: Indirect Cash Flow Statement Adjustments for [Put minus sign (-) before a number to be subtracted] (Change) in inventories FIFO: Direct Cash Flow Statement (Payments to suppliers): Show as negative Year 1 Year 2 Year 3 Year 4 LIFO: Income statement COGS Tax expense LIFO: Balance sheet Cash Inventories Retained earnings LIFO: Indirect Cash Flow Statement Adjustments for [Put minus sign (-) before a number to be subtracted] (Change) in inventories LIFO: Direct Cash Flow Statement (Payments to suppliers): Show as negative