6-1A - Beginning Inventory 5-Mar 18-Mar 25-Mar Units...

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Beginning Inventory100 Units @ 50$5,000 5-Mar400 Units @ 55$22,000 18-Mar120 Units @ 60$7,200 25-Mar200 Units @ 62$12,400 Units Available820 UnitsCost of Goods Available for Sale$46,600
Units Available (from part 1)820 unitsLess: Units Sold (420+160)580 UnitsEnding Inventory (units)240 Units
FIFO PerpetualDateGoods PurchasedCost of Goods SoldInventory Balance1-Mar100 @ $50.00 = $5,000.005-Mar 400 @ $55.00 = $2200.00100 @ $50.00400 @ $55.00 $27,000.00 9-Mar100 @ $50.0080 @ $55.00320 @ 55.00$4,400.00$22,600.00 18-Mar 120 @ $60.00 = $7200.0080 @ $55.00120 @ $60.00$11,600.00 25-Mar 200 @ $62.00 = $12,400.0080 @ $55.00120 @ $60.00200 @ $62.00$24,000.00 29-Mar80 @ $55.0040 @ $60.0080 @ $60.00200 @ $62.00$9,200.00 $14,800.00 $31,800.00
LIFO PerpetualDateGoods PurchasedCost of Goods SoldInventory Balance1-Mar100 @ $50.00 = $5,000.005-Mar 400 @ $55.00 = $2200.00100 @ $50.00400 @ $55.00 $27,000.00 9-Mar400 @ $55.0080 @ $50.0020 @ $50.00$4,000.00 $23,000.00 18-Mar 120 @ $60.00 = $7200.0080 @ $50.00120 @ 60.00$11,200.00 25-Mar 200 @ $62.00 = $12,400.0080 @ $50.00120 @ $60.00200 @ $62.00$23,600.00 29-Mar160 @ $62.0080 @ $50.00$9,920.00 120 @ $60.0040 @ $62.00$32,920.00 $13,680.00
Weighted Average PerpetualDateGoods PurchasedCost of Goods SoldInventory Balance1-Mar100 @ $50.00 = $5,000.005-Mar 400 @ $55.00 = $2200.00100 @ $50.00400 @ $55.00$27,000.00 (avg = $54.00 per unit)9-Mar420 @ $54.0080 @ $54.00$22,680.00
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Term
Winter
Professor
FOSTER
Tags
Accounting, Harshad number, Goods Sold, FIFO and LIFO accounting, Specific Identification

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