Reference no: EM132580883

In the prior period, 10,000 units were produced and 8,900 were sold; revenue was $2,047,000; and fixed costs were $477,000 for manufacturing and $321,000 for selling and administration. Variable costs were $320,000 for manufacturing and $222,500 for selling and administration. In the current period, 10,000 units were produced and 10,300 were sold. No changes occurred in prices or costs between the periods.

Question 1: Show how can do Reconcile income under 3 methods

Question 2: calculate the cost of ending inventory