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d$.$ Paid freight on inventory received, $$24,000.$

e$.$ Paid $$320,000$ to inventory suppliers on accounts payable of $$325,000.$ The difference reflects purchase discounts of $$5,000.$

f$.$ Paid rent for the current year, $$42,000.$ The payment was recorded to Rent Expense.

g$.$ Paid salaries for the current year, $$150,000.$ The payment was recorded to Salaries Expense.

Year$-$end adjusting entries:

a$.$ Supplies on hand at the end of the year are $$8,000.$

b$.$ Accrued interest expense on notes payable for the year.

c$.$ Accrued income taxes at the end of December are $$18,000.$

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Requirement$,\backslash$table$[[$General$],[$Journal$]],\backslash$table$[[$General$],[$Ledger$]],\backslash$table$[[$Income$],[$Statement$]],$Balance Sheet Analysis$]]$

Using the information from the requirements above, complete the 'Analysis'. $($Calculate the ratios to the nearest $1$ decimal place.$)$

Analyze the following for Displays Incorporated:

$($a$)$ Suppose Displays Incorporated decided to maintain its internal records using FIFO but to use LIFO for external reporting Assuming the ending balance of inventory under LIFO would have been $$85,000,$ calculate the LIFO reserve.

LIFO reserve is

$($b$)$ Assume the $$60,000$ beginning balance of inventory comes from the base year with a cost index of $1\mathrm{.}00.$ The cost index at the end of $2024$ of $1\mathrm{.}10.$ Calculate the amount the company would report for inventory using dollar$-$value LIFO

Ending inventory using dollar$-$value LIFO

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