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Please answer the following. Use the following Information to complete this exercise sales. 1150...

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Accounting

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Please answer the following.

Use the following Information to complete this exercise sales. 1150 units for $25.800; beginning inventory. 900 units, purchases. 1000 units; ending Inventory, 750 units; and operating expenses. $6,400. Required: 1. Complete the table for each situation. In Situations A and B (costs rising). assume the following: beginning inventory. 900 units at $8 = $7.200: purchases, 1.000 units at $10 = $10,000. In Situations Cand D costs falling), assume the opposite that is, beginning Inventory, 900 units at $10 = $9,000; purchases, 1,000 units at $8 = $8,000. Use perlodic Inventory procedures. Costs Rising Situation A FIFO Situation B LIFO $ 25,800 Costs Falling Situation C Situation D FIFO LIFO $ 25,800 S 25,800 S 25,800 $ 7,200 10,000 17,200 7,500 Sales Revenue Beginning Inventory Purchases Goods Available for Sale Ending inventory Cost of Goods Sold Gross Profit Operating Expenses Income from Operations Income Tax Expense (30%) Net Income 6,400 8,400 8.400 9,700 16.100 8,400 9,700 2,910 8.790 S

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