NOVA Company provided the following inventory information for the year. Unit Cost Total Cost Units 1/1 Beginning Inventory 100 $2 $200 1/20 Purchase 400 $3 $1,200 7/25 Purchase 200 $4 $800 10/20 Purchase 300 $5 $1.500 1000 $3,700 A physical count of inventory on December 31 revealed that there were 300 units on hand. NOVA Company uses the LIFO method. What is the value of the ending inventory at December 31?

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Grother Company uses the periodic inventory method and had the following inventory information available: 1/1 1/20 7/25 10/20 1. 2. 3. 4. (a) Beginning Inventory Purchase 4. (b) Purchase Purchase Units 100 500 100 300 1,000 Unit Cost $4 $5 $7 $8 Total Cost A physical count of inventory on December 31 revealed that there were 350 units on hand. Answer the following independent questions. $400 2,500 700 2,400 $6,000 Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is Assume that the company uses the average-cost method. The value of the ending inventory on December 31 is Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method Would income have been greater or less? $

The beginning inventory and the purchases and sales of inventory for March for the Carolina Company                   are as presented below. Complete the inventory schedule assuming the FIFO Inventory valuation                   method is used.                                       Date Transaction Number of Units Per Unit Total           Mar 1 Inventory 10,500 1.5 $15,750           Mar 8 Purchase 12,000 1.6 $19,200           Mar 11 Sold 11,000 2.5 $27,500           Mar 12 Sold 9,500 2.5 $23,750           Mar 14 Purchase 8,000 1.65 $13,200           Mar 15 Sold 5,000 2.6 $13,000           Mar 19 Sold 4,000 2.6 $10,400           Mar 22 Purchase 7,000 1.7 $11,900           Mar 24 Sold 4,000 2.6 $10,400           Mar 25 Sold 2,500 2.6 $6,500           Mar 26 Purchase 10,000 1.72 $17,200           Mar 28 Sold 5,000 2.6 $13,000                                       FIFO Purchases Cost of Goods Sold Inventory           Quantity UnitCost TotalCost…