Help with Accounting 101! FIFO and LIFO

Anonymous
timer Asked: Mar 1st, 2018
account_balance_wallet $20

Question description

Need help with my accounting work. Please fill in the highlighted blue boxes and explain each input whether with calculations or common rules.

Help with Accounting 101! FIFO and LIFO
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Help with Accounting 101! FIFO and LIFO
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Help with Accounting 101! FIFO and LIFO
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Tutor Answer

Manal25
School: University of Maryland

Hello Please find the solution attached.If you have any questions, please do not hesitate to ask; if all is clear please review and rate my servicesAll the best

Pruitt Company
Sales Revenue
Cost of Goods Sold
Gross Profit
Expenses
Pretax Income
Income Tax Expense
Net Income
Overstatement of Inventory - 2017

2016
2017
2018
$2.030.000 $2.459.000 $2.709.000
$1.497.000 $1.617.000 $1.778.000
$533.000
$842.000
$931.000
$489.000
$501.000
$528.000
$44.000
$341.000
$403.000
$17.600
$136.400
$161.200
$26.400
$204...

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Review

Anonymous
Top quality work from this guy! I'll be back!

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