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Required information [The following information applies to the questions displayed below.) You have been given responsibility
1. Determine the amount for (a) using FIFO, and then calculate (6) through (g). Amount Inventory Total Assets Total Liabiliti
2. Determine the amount for (a) using Weighted Average, and then calculate (b) through (d). Amount Inventory Total Assets Tot
3. Determine the amount for (a) using LIFO, and then calculate (b) through (d). Amount Inventory Total Assets Total Liabiliti
4. Determine the current ratios using () FIFO. () Weighted Average, and (IILIFO. (Round your a Current Ratio FIFO Weighted Av
5. Determine whether the company would be in violation or compliance with the loan covenant if the company were to use (FIFO.
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Answer #1

Page No 0 $15 $ 16 28 78 20 Answer Paradise Conventory Systems Inventory uplig method Particular Quantity Coxif per unit. Tot$176 28 1 ao $356 Page No ③ Linventory - telefon melked Particular Quantity cost per unit | Total cost Beginning inventory $1Page.no @ @ Amounts for cas oning weighted averige s then calculate by thighly Amount Inventory $ 136 Total assets $ 241 TotaPage. No FIFO - couvrent oratio - - 16+160 - 48 = 3.67 = 3,17 Weighted average - Current LIFO - Current vratio = oratio = 167

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