Otter corporation reported the following for june in its periodic inventory records. date description units unit cost total cost june 1 beginning 12 $ 8 $ 96 11 purchase 38 9 342 24 purchase 20 11 220 30 ending 24 required: calculate the cost of ending inventory and the cost of goods sold under the (a) fifo, (b) lifo, and (c) weighted average cost methods. (do not round your intermediate calculations. round "weighted average cost" to 2 decimal places.) which of the three methods will lead to reporting the highest net income? fifo lifo weighted average

You are the new chief information officer for the video-game developer, necturus games. the company has recently undergone a major expansion of its primary product, and you must staff up the is department and determine the best way to develop new game "capsules" for the game, "escape velocity."

Miko willingly admits that she is not an accountant by training. she is concerned that her balance sheet might not be correct. she has provided you with the following additional information. 1. the boat actually belongs to miko, not to skysong, inc.. however, because she thinks she might take customers out on the boat occasionally, she decided to list it as an asset of the company. to be consistent, she also listed as a liability of the corporation her personal loan that she took out at the bank to buy the boat. 2. the inventory was originally purchased for $27,500, but due to a surge in demand miko now thinks she could sell it for $39,600. she thought it would be best to record it at $39,600. 3. included in the accounts receivable balance is $11,000 that miko loaned to her brother 5 years ago. miko included this in the receivables of skysong, inc. so she wouldn’t forget that her brother owes her money. (b) provide a corrected balance sheet for skysong, inc.. (hint: to get the balance sheet to balance, adjust stockholders’ equity.) (list assets in order of liquidity.)

Serious question, which is preferred in a business? pp or poopoo?