Return to c Required information [The following information applies to the questions displayed below.] Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise...

Need HELP !!!! Don't know what to do for the wrong ones and the rest of the graph! With explanations please !! thank you!!!

Extracted text: Return to c Required information [The following information applies to the questions displayed below.] Daniel Company uses a periodic inventory system. Data for the current year: beginning merchandise inventory (ending inventory December 31, prior year), 2,170 units at $36; purchases, 7,820 units at $38; expenses (excluding income taxes), $192,900; ending inventory per physical count at December 31, current year, 1,630 units; sales, 8,360 units; sales price per unit, $80; and average income tax rate, 32 percent. Required: 1. Compute cost of goods sold and prepare income statements under the FIFO, LIFO, and average cost inventory costing methods. (Round your final answers to nearest whole dollar. Do not round your intermediate calculations.) 8 Answer is complete but not entirely correct. Inventory Costing Method Average Cost Cost of Goods Sold Units FIFO LIFO $ 78,120 297,160 $ 78,120 $ 78,120 Beginning inventory Purchases Goods available for sale 2,1700 7,820 297,160 297,160 9,990 375,280 375,280 375,280 Ending inventory 1,630 61,940 58,680 61,232 Cost of goods sold 8,360 2$ 317,680 $ 2,204,352 X $ 314,048


Extracted text: X Answer is not complete. Average Cost Income Statement FIFO LIFO Sales revenue $ 668,800 $ 668,800 $ 668,800 Cost of goods sold 314,048 Operating expenses Income tax expense Net income