Calculate Taylor & Partridge\'s margin and net income. ( Round your margin perce

Question

Calculate Taylor & Partridge's margin and net income. (Round your margin percentage to 1 decimal place and use the same for the calculation of net income. Enter your answer in dollars, not millions of dollars. Omit the "$" and "%" signs in your response.)

The following data are available for Sellco for the fiscal year ended on January 31, 2011:

Calculate cost of goods sold and ending inventory amounts under the cost-flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): (Round your unit cost to 2 decimal places and rest of the answers to the nearest whole number. Omit the "$" sign in your response.)

Assume that net income using the weighted-average cost-flow assumption is $14,000. Calculate net income under FIFO and LIFO. (Round your unit cost to 2 decimal places and rest of the answers to the nearest whole number. Omit the "$" sign in your response.)

ANY ANSWER I HAVE ARE WRONG

For the year ended December 31, 2010 ,Taylor & Partridge, earned an ROI of 14%. Sales for the year were $14 million, and average asset turnover was 2.4. Average owners' equity was $2.6 million.

Explanation / Answer

FIFO LIFO COGS 300*4 250*7 320*4 440*6 150*6 80*4 Cl. Stock 290*6 300*4 250*7 240*4 Please cinsider the time devoted by rating this as lifesaver. Thank u in advance. God bless u :)

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