Taylor Company uses a periodic inventory system. The following is partial information from its income statements for 2019 and 2020:   2019 2020 Beginning inventory $ (b) $ (d) Sales 250,000 (f) Purchases 115,000 140,000 Purchase returns 2,000 3,000 Ending inventory 50,000 70,000 Gross profit (a) 73,000 Cost of goods sold 101,000 (e) Expenses 60,000 62,000 Net income (c) 11,000 Required Fill in the blanks lettered a through f. (Hint: It probably is easiest to work through the blanks according to the sequential letters.)             (d) Beginning inventory of 2020 $fill in the blank 4 (e) Cost of goods sold $fill in the blank 5 (f) Sales $fill in the blank 6

The following data are available for Sellco for the fiscal year ended on January 31, 2020:              Sales 830 units       Beginning inventory 230 units @ $ 4 Purchases, in chronological order 290 units @ $ 5   450 units @ $ 7   250 units @ $ 7   Required:a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.)   b. Assume that net income using the weighted-average cost flow assumption is $15,300. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)

Coronado Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $ 23 per unit. None of this inventory was sold in 2019. Relevant information is as follows. Ending inventory units December 31, 2019 165 December 31, 2020, by purchase date December 2, 2020 165 July 20, 2020 50 215 During the year 2020, the following purchases and sales were made. Purchases Sales March 15 365 units at $ 28 April 10 265 July 20 365 units at 29 August 20 365 September 4 265 units at 32 November 18 215 December 2 165 units at 35 December 12 265 The company uses the periodic inventory method. (a1) Your answer is correct.

Blossom Company reported the following income statement data for a 2-year period. Sales revenue Cost of goods sold Beginning inventory Cost of goods purchased Cost of goods available for sale Ending inventory Cost of goods sold Gross profit 2019 $211,000 32,500 173,000 205,500 44,500 161,000 $50,000 2020 $255,000 44,500 203,500 248,000 55,000 193,000 $62,000 Blossom uses a periodic inventory system. The inventories at January 1, 2019, and December 31, 2020, are correct. However, the ending inventory at December 31, 2019, was overstated $5,000.

The following data are available for Sellco for the fiscal year ended on January 31, 2020:              Sales 840 units       Beginning inventory 250 units @ $ 4 Purchases, in chronological order 320 units @ $ 5   410 units @ $ 6   200 units @ $ 7   Required:a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.)   b. Assume that net income using the weighted-average cost flow assumption is $12,300. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)

On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information: Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, end of year Cost $50,400 201,840 During 2022, purchases at cost and retail were $248,655 and $452,100, respectively. Net markups, net markdowns, and net sales for the year were $3,000, $4,000, and $360,000, respectively. The retail price index at the end of 2022 was 1.06. Ending inventory Retail $ 84,000 350,000 10,000 12,000 327,000 1.04 Estimate ending inventory in 2022 using the dollar-value LIFO retail method. (Round your intermediate calculations to the nearest whole dollar. Round ratio calculation to the nearest whole percent.) $ 175,100

Sunland Company's inventory on January 1, 2025, at cost and retail are $97,500 and $141,000, respectively. Sunland established its base year amounts on January 1, 2025. The current year price index was 1.20. Sunland also had the following information: Purchases Sales Mark-ups Mark-downs Cost $195,000 Retail $282,000 243,000 19,740 (11,280) Determine ending inventory using: (Round ratio to 2 decimal places, e.g. 75.35% and final answer to O decimal places, e.g. 5,275.) (a) LIFO retail. (b) Dollar Value LIFO. (a) Ending inventory under LIFO retail $ tA (b) Ending inventory under Dollar Value LIFO $

he following data are available for Sellco for the fiscal year ended on January 31, 2020:              Sales 1,600 units       Beginning inventory 500 units @ $ 4 Purchases, in chronological order 600 units @ $ 5   800 units @ $ 6   500 units @ $ 8   Required:a. Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and weighted average (using a periodic inventory system): (Round unit cost to 2 decimal places.) b. Assume that net income using the weighted-average cost flow assumption is $80,000. Calculate net income under FIFO and LIFO. (Round unit cost to 2 decimal places.)

Haradev

On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows: 2022 Retail Cost 2021 Cost Retail Beginning inventory Net purchases $34,500 $ 46,000 93,860 2,300 111,000 $106, 834 $123,900 2,800 Freight-in Net markups Net markdowns 11,500 2,300 106,000 2,800 8,600 2,500 110,420 4,480 Net sales to customers Sales to employees (net of 20% discount) Price Index: January 1, 2021 December 31, 2021 December 31, 2022 1.00 1. 08 1.14 Required: Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method. (Do not round other intermediate calculations. Round your cost-to-retail percentage calculation to 2 decimal places and final answers to the nearest whole dollar.) 2021 2022 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold