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Calculate ending Inventory and cost of goods sold for each of the following three methods: In your calculations, round average unit cost to three decimal places. Round all Other calculations and your final answers to the nearest dollar. Which method(s) give(s) a different answer depending on whether a company uses a periodic or a perpetual inventory system? Assume the use of the perpetual system and an estimated tax rate of 30%. How much more or less (indicate which) will Stillwater pay in taxes by using LIFO instead of FIFO? If required, round your answer to the nearest dollar. Difference in taxes under LIFO vs. FIFO Does this amount represent more or less taxes paid using LIFO? Calculate ending Inventory and cost of goods sold for each of the following three methods: In your calculations, round average unit cost to three decimal places. Round all Other calculations and your final answers to the nearest dollar. Which method(s) give(s) a different answer depending on whether a company uses a periodic or a perpetual inventory system? Assume the use of the perpetual system and an estimated tax rate of 30%. How much more or less (indicate which) will Stillwater pay in taxes by using LIFO instead of FIFO? If required, round your answer to the nearest dollar. Difference in taxes under LIFO vs. FIFO Does this amount represent more or less taxes paid using LIFO

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