Computing cost of goods sold and ending inventory under FIFI, LIFO and average cost. Assume that Gode Company reports the following initial balances and subsequent purchases of inventory: Beginning inventory 2017 1,000 units@ 100 each $100,000.00Inventory purchased in 2017 2,000 units @150 each $300,000.00Cost of goods sold for sale in 2017 3,000 units $400,000.00 Assume that 1,700 units sold during 2017. Compute the cost of goods sold for 2017 and the balance reported as ending inventory on its 2017 balance sheet under the following inventory costing methods: a. FIFOb. LIFOc. Average Cost

The Toso Company uses the retail inventory method. The following information is available for the year ended December 31, 2024: Inventory 1/1/2024 Net purchases for the year Net sales Cost $ 420,000 1,980,000 Retail $ 750,000 2,850,000 2,940,000 Applying the average cost retail inventory method, Toso's inventory at December 31, 2024, is estimated at:

Computing and Evaluating Inventory and PPE Turnovers Intel Corporation reports the following financial statement amounts in its 10-K reports. Cost of $ millions Sales Goods Sold Inventories 2016 $95,019 $24,501 $5,553 25,096 6,983 29,162 7,253 2017 100,418 2018 113,357 a. Compute the inventory and PPE turnover ratios for both 2017 and 2018. Note: Do not round until your final answer. Note: Round your final answers to one decimal place (for example, enter 6.8 for 6.77555). Inventory turnover PPE turnover 2017 Inventory turnover PPE turnover Plant, Property and Equipment, Net $36,171 41,109 48,976 2018 b. What changes are evident in the turnover rates of Intel for these years? < +

This information is available for Kingbird, Inc. for 2017, 2018, and 2019. 2017 2018 2019 Beginning inventory $ 106,000 $318,500 $ 410,000 Ending inventory 318,500 410,000 470,000 Cost of goods sold 894,000 1,127,500 1,292,500 Net sales 1,206,500 1,608,500 1,907,500 (a1) > (a2) (a3) Calculate gross profit rate for Kingbird, Inc. for 2017, 2018, and 2019. (Round ansv 2017 2018 2019 Gross profit rate V.