Chap EX6-7 - Date Jan 1 Jan 10 Mar 14 Mar 15 July 30 Oct 5 Oct 26 Activities Beginning Inventory Sales Purchase Sales Purchase Sales Purchase Totals

Chap EX6-7 - Date Jan 1 Jan 10 Mar 14 Mar 15 July 30 Oct 5...

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DateActivitiesUnits Acquired at CostUnits Sold at RetailJan. 1Beginning Inventory200 Units @ $10 = $2,000Jan. 10Sales150 units @ $40 = $6,000Mar. 14Purchase350 units @ $15 = $5,250Mar. 15Sales300 units @ $40 = $12,000July 30Purchase450 units @ $20 = $9,000Oct. 5SalesOct. 26PurchaseTotals1,100 units$18,750 $35,200 Perpetual FIFOGoods purchasedCost of Goods SoldInventory BalanceDate# of unitsUnit CostUnit Cost1-Jan200$10.00$2,000.0010-Jan150$10.00$1,500.0050$10.00$500.0014-Mar350$15.0050$10.00$500.00350$15.00$5,250.00$5,750.0015-Mar50$10.00$500.00250$15.00$3,750.00100$15.00$1,500.00$4,250.00$1,500.0030-Jul450$20.00100$15.00$1,500.00450$20.00$9,000.00$10,500.005-Oct$10.00$0.00100$15.00$1,500.00330$20.00$6,600.00120$20.00$2,400.00$8,100.00$2,400.0026-Oct100$25.00120$20.00$2,400.00100$25.00$2,500.00Totals$13,850.00$4,900.00Perpetual LIFOGoods purchasedCost of Goods SoldInventory BalanceDate# of unitsUnit CostUnit Cost1-Jan200$10.00$2,000.0010-Jan150$10.00

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