Find the Inventory Values Using (A) the Weighted-Average Method, (B)

question 38

Multiple Choice

Find the inventory values using (a) the weighted-average method, (b) the FIFO method, and (c) the LIFO method. Round final answers to the nearest dollar.
-

• A)(a)$737 (b)$286 (c)$291
• B)(a)$737 (b)$243 (c)$291
• C)(a)$268 (b)$286 (c)$247
• D)(a)$268 (b)$247 (c)$286

---

Definitions:

Taxable Income

The amount of income subject to taxes, calculated by adjusting gross income for deductions, exemptions, and allowances, according to tax laws.

Deferred Income Tax Asset

A balance sheet item that represents taxes paid or carried forward but not yet realized on the income statement.

Net Operating Loss

The deficit that occurs when a business's expenses exceed its revenues, excluding taxes and certain other expenses, over a fiscal period.

Future Profitability

An estimation or outlook on the capacity of a business to generate earnings in future periods, often considered for investments or strategy planning.