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Need help with filling in the blanks, I can't seem to figure it out. Each...

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Accounting

Need help with filling in the blanks, I can't seem to figure it out. Each number in a square bracket ( [ ] ) is a blank that needs to be filled.

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Cheyenne Inc. is trying to determine whether to use the FIFO or average cost formula. The accounting records show the following selected inventory information: Cost of Goods Sold Units Cost Total Date Oct. 2 15 Units 9,300 15,500 Purchases Cost Total $13 $120,900 15 232,500 Ending Inventory Units Cost Total 9,300 $13 $120,900 [1] [2] [3] [4] [5] 29 20,000 [6] [8] [7] [9] [10] [11] [12] [13] The company accountant has prepared the following partial statement of income to help management understand the financial statement impact of each cost determination cost formula. FIFO Average $536,000 $536,000 Sales Cost of goods sold Gross profit Operating expenses Income before income tax Income tax expense (30%) Net income 183,000 183,000 (a) X Your answer is incorrect. Fill in the missing amounts in the perpetual inventory schedule, assuming the use of the FIFO cost formula. Ending Inventory Cost Total Units 9,300 $13 15,500 15 24800 14.25 $ e Textbook and Media Save for Later Attempts: 1 of 3 used Submit

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