Assume that The Style sold 120 gowns during 2018 and uses the LIFO method to account for inventory. The Style's income tax rate is 35%. Read the requirements. Requirement 1. Compute The Style's cost of goods sold for evening gowns Units Unit price From beginning inventory From purchase in February From purchase in June From purchase in December LIFO cost of goods sold 18 $ 23 52 27 950 $ 1,225 1,275 1,325 2018. Total 17,100 28,175 66,300 35.775 147,350 C $ Requirement 2. Compute what cost of goods sold would have been if The Style had purchased enough inventory in December-at $1,325 per evening gown-to keep year-end inventory at the same level it was at the beginning of the year.

Required information [The following information applies to the questions displayed below.] During the year, TRC Corporation has the following inventory transactions. Number Unit Date Transaction of Units Cost Total Cost $38 $1,748 5,040 8,428 4,664 Jan. 1 Beginning inventory Purchase 46 Apr. 7 Jul. 16 126 40 Purchase 196 43 Oct. 6 Purchase 106 44 474 $19,880 For the entire year, the company sells 425 units of inventory for $56 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Cost of Goods Sold Ending Inventory LIFO Cost of Goods Available for Sale Cost of Average Cost of Average Average

louie company sells Astro's photocards for P30 each. the following was taken from the inventory records during march:      date            photocard      units                cost march 03 purchase 500 P15 march10 sale 300   17 purchase 1000 P17 20 sale 600   23 sale 300   30 purchase 1000 P20 1. Determine the cost of sales and cost of ending inventory using First-in-First-out Method (Periodic) 2.Determine the cost of sales and cost of ending inventory using Weighted Average Method 3. Determine the cost of sales and cost of ending inventory using Moving Average Method

Adler Inc. has the following information for four inventory items, reported using the retail method, on July 31. The normal profit margin is 20% of selling price. Cost to Sell Cost per Replacement Cost Item Selling Price per No. Quantity Unit per Unit Unit per Unit #101 80 $20 $5 $15 $12 #102 50 22 4 14 15 #211 30 35 5 30 28 #212 40 40 8 28 35 Required Determine the inventory cost to report on the balance sheet on July 31 assuming that the company applies the lower of cost or market value rule to each individual inventory item. Note Do not use any negative signs with your answers. Per Unit Total Total Cost Cost to Cost Replacement Total Sell per Replacement Ceiling Floor Market Cost Lower of Selling Price Item per per No. Quantity Unit Unit Unit per Unit Cost #101 80 $20 $5 $15 $12 $ 0 $ #102 50 22 #211 30 35 45 14 15 0 30 28 0 #212 40 40 8 28 35 0 000 O 0 ос 00 Cost or Market 0 $ 0 $ 0 $ 0 $ 0 0 0 0 0 0 0 0 0 0 $ 0 $ 0 $ 0