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Inventory

# Inventory - Units 40000 BeginningInventory UnitPrice...

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Units Unit Price \$ Average Cost Method FIFO Method LIFO Method Sale of Item Reel Mower units  67,000,000.0 40000 \$1,675.0 Minus Cost of Goods Sold Beginning Inventory 13,500,000.0 15000 \$900.0 Plus Purchases Q1 10000 \$1,000.0 10,000,000.0 Q2 10000 \$1,100.0 11,000,000.0 Q3 10000 \$1,200.0 12,000,000.0 Q4 10000 \$1,300.0 13,000,000.0 Total Purcases 40000 46,000,000.0 Cost of Goods Available for Sale 55000 59,500,000.0 Minus Ending Inventory  15,000.0 ? \$16,227,272.7 \$19,000,000.0 \$13,500,000.0 Cost of Goods Sold  40000 ? \$43,272,727.3 \$40,500,000.0 \$46,000,000.0 Gross Profit ? \$23,727,272.7 \$26,500,000.0 \$21,000,000.0 \$10,000,000.0 \$10,000,000.0 \$10,000,000.0 Income bef taxes \$13,727,272.7 \$16,500,000.0 \$11,000,000.0 Income tax (35%) \$4,804,545.5 \$5,775,000.0 \$3,850,000.0 Net Income \$8,922,727.3 \$10,725,000.0 \$7,150,000.0 SELL ALL INVENTORY IN THE NEXT PERIOD 2007 2008 Total Average Sales 67,000,000.0 25,125,000.0 92,125,000.0 Minus COGS
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