LO 3 Effects of Inventory Costing Methods and Changing Prices SE6. Prepare a table with...
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LO 3 Effects of Inventory Costing Methods and Changing Prices SE6. Prepare a table with four columns that shows the ending inventory and cost of goods sold for each of the results from your calculations in SE2 through SE5, includ- ing the effects of the different prices at which the merchandise was purchased. Which method(s) would result in the lowest income taxes? LO 4 Average-Cost Method: Perpetual Inventory System SE7. Using the data in SE2, calculate the cost of ending inventory and cost of goods sold according to the average-cost method under the perpetual inventory system. (Round to the nearest dollar.)
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