on number 1 I have the ending correct but I'm not getting the correct COG. and I'm stuck on #2 and #4thank you for your help. Johnson Corporation began the year with inventory of 25,000 units of its only product. The units cost $9 each. The company uses aperpetual inventory system and the FIFO cost method. The following transactions occured during the yeara. Purchased 125,000 additional units at a cost of $10 per unit. Terms of the purchases were 3/10, n/30, and 70% of the purchaseswere paid for within the 10-day discount period. The company uses the gross method to record purchase discounts, Themetchandise was purchasedfo.b shipping point and freight charges of $0.60 per unit were paid by Johnson.b. 2,500 units purehased during the year were returhed to suppliers for credit. Johnson was also given cCredit for the freight charges of$0.60 per unit it had paid on the original purchase The units were defective and were returned two days after they were receivedC. Sales for the year totaled 120,000 units at $16 per unit.d. On December 28, Johnson purchased 6,500 additional units at $11 each. The goods were shipped fo.b destination and arrived atJohnson's warehouse on January 4 of the following year.e. 27,500 units were on hand at the end of the year.Required:1. Determine ending inventory and cost of goods sold at the end of the year2. Assuming that operating expenses other than those indicated in the above transactions amounted to $180,000, determine incomebefore income taxes for the year.3. For financial reporting purposes, the company uses LIFO (amounts based on a periodic inventory system). Record the year endadjusting entry for the LIFO Teserve, assuming the balance in the LIFO reserve at the beginning of the year is $18,00.4. Determine the amount the company would report as income before taxes for the year underLIFO Operating expenses other thanthose indicated in the above transactions amounted to $180,000Answer is not complete.Complete this question by entering your answers in the tabs below.Required 1Required 2Required 3Required 4Determine ending inventory and cost of goads sold at the end of the yearEnding inventory283,250ICost of annde cold1 203 E00Next

IS OHly p Cost $9 each. The CO petual inventory system and the FIFO cost method The following transactions occurred during the year Purchased 125.000 additional units at a cost of $10 per unit. Terms of the purchases were 3/10, n/30, and 70% of the were paid for within the 10-day discount period. The company uses the gross method to record purchase discounts, metchandise was purchasedfo.b shipping point and freight charges of $060 per unit were paid by Johnson. 2,500 units purchased during the year were returhed to suppliers for credit Johnson was also given credit for the fre $0.60 per unit it had paid on the original purchase The units were defective and were retuned two days after they w Sales for the year totaled 12O,000 units at $16 per unit. On December 28, Johnsoh purchased 6,500 additional units at $11 each. The goods were shinned fah destination at