Please do c and d. Ross Company's record of transactions for the month of April was as follows.PurchasesApril 1 (balance on hand) 1,100 @ $ 6.00 April 5 500 @ $10.001,500 @6.081,400 @10.00413212930Total8001,200 @ 6.50700@ 6.405,800@ 6.60500 @ 6.79Sales9112327Total600@ 11.001,200 @11.00800 @12.004,500 InstructionsTO RECEIVE CREDIT FOR THE ITEMS BELOW YOU MUST SHOW YOUR WORK AND ANY CALCULATIONS:a. Assuming that periodic inventory records are kept, compute the inventory at April 30 using (1) LIFO and (2) average-cost.b. Assuming that perpetual inventory records are kept, determine the inventory using (1) FIFO and (2) LIFO (3) average cost.c. Compute cost of goods sold assuming PERIODIC inventory procedures and inventory priced at FIFO.d. In an inflationary period, which inventory method-FIFO, LIFO, or average-cost-will show the highest net income? Why?

Name: Please do c and d. Ross Company's record of transactions for the month
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Please do c and d. Ross Company's record of transactions for the month of April was as follows.PurchasesApril 1 (balance on hand) 1,100 @ $ 6.00 April 5 500 @ $10.001,500 @6.081,400 @10.00413212930Total8001,200 @ 6.50700@ 6.405,800@ 6.60500 @ 6.79Sal