fifo and lifo the following comparative information is available for prasad company 461196

LIFO (Last- In First Out)

Sales- 85,529

Cost of goods sold-42,503

Operating Expenses (including depreciation)- 30,634

Depreciation- 14,044

Cash paid for inventory purchases- 35,047

FIFO (First In- First Out)

Sales- 85,529

Cost of goods sold- 31,094

Operating Expenses (including depreciation)- 30,634

Depreciation- 14,044

Cash paid for inventory purchases- 35,047

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fifo and lifo the following comparative information is available for prasad company 461196
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Determine net income under each approach. Assume a 30% tax rate. (Round your calculations and final answers to 0 decimal places, e.g. 5,250.) For both LIFO and FIFO.

Determine net cash provided by operating activities under each approach. Assume that all sales were on a cash basis and that income taxes and operating expenses, other than depreciation, were on a cash basis. (Round your calculations and final answers to 0 decimal places, e.g. 5,250.) For both LIFO and FIFO

Calculate the quality of earnings ratio under each approach. (Round answers to 2 decimal places, e.g. 3.15.) For both LIFO and FIFO.

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