10. Penn Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the accounting records provided the following information for product 1:UnitsUnit CostInventory, December 31, prior year1,810 $ 6For the current year:Purchase, March 215,140 Purchase, August 12,810 Inventory, December 31, current year4,060 Required:Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. (Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount.)89
11. Following is partial information for the income statement of Arturo Technologies Company under three different inventory costing methods, assuming the use of a periodic inventory system:Required:1. Compute cost of goods sold under the FIFO, LIFO, and average cost inventory costing methods. (Do not round intermediate calculations.)
2.Prepare an income statement through pretax income for each method.