The following information is obtained from Burger Companys records, .pdf

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The following information is obtained from Burger Company's records, Burger uses the dollar- value tiFO ratail method. we cumpany aoopted UFO on January 1, 2019, when the cost and retail values of the inventory were $40,000 and $100,000, respectively, Burger experienced the following arice indexes: Compute the cost of the ending inventory for 2019. Round the cost-to- retail ratio out to three decimal places. Round computations and final answers to the nearest dollar. BURGER COMPANY Calculation of ending inventory by Dollar-Value LIFo Retail inventorv methou BURGER COMPANY Calculation of ending inventory by Dollar-Value LIFO Retail Feedback Check My Work Compute the cost of the ending inventory for 2020. Round the cost-to-retail ratio out to three decimal pl nearest dollar. Compute the cost of the ending inventory for 2020. Round the cost-to-retail ratio out to three decimal places. Round computations and final answers to the nearest dollar. BURGER COMPANY Calculation of ending inventory by Dollar-Value LIFO Retail Compute the cost of the ending inventory for 2021. Round the cost-to-retail ratio out to three decimal places. Round computations and final answers to the nearest dollar. BURGER COMPANY Calculation of ending inventory by Dollar-Value LIFO Retail inventory mathnd.

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The management of Buffalo Instrument Company had concluded, with the concurrence of its independent auditors, that results of operations would be more fairly presented if Buffalo changed its method of pricing inventory from last-in, first-out (LIFO) to average-cost in 2020. Given below is the 5-year summary of income under LIFO and a schedule of what the inventories would be if stated on the average-cost method. BUFFALO INSTRUMENT COMPANY STATEMENT OF INCOME AND RETAINED EARNINGS FOR THE YEARS ENDED MAY 31 BUFFALO INSTRUMEN Statement of Income and R For the Years Ende Cost of goods sold Beginning imventory Purchases Ending inventory Total Gross profit Administrative expenses Income before taxes Income taxes. Net income Retained earnings- beginning: As originally reported Adjustment As restated Retained earnings-ending Earnings per share Prepare comparative statements for the 5 years, assuming that Buffalo changed its method of inventory pricing to average-cost. Indicate the effects on net income and earnings per share for the years involved. Buffalo Instruments started business in 2015. Assume that the number of shares outsanding is 100. (Enter amounts that decreose cost of goods sold using either a negative sign preceding the number es. 15 , 000 or parentheses es ( 15 , 000 ) . Round all amounts except EPS to the nearest whole dollar, es. 5,275. Round Earnings Per Share to 2 decimal places, es. 1.62. Round up the tax effects to the next whole dollor).

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