ACC HW6 - $74,000.00 FIFO Untis Sold On Hand Inventory:...

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Maya Jordan 18-Oct HW 6 P6-2A Date Unit Unit Cost Total Cost Beg Inv 1000 $5.00 $5,000.00 3-Oct 3500 $6.00 $21,000.00 9-Oct 4000 $7.00 $28,000.00 19-Oct 2000 $8.00 $16,000.00 25-Oct 2000 $9.00 $18,000.00 Totals 12500 $88,000.00 <~~ Cost of Good Available for sale LIFO Untis Sold On Hand Inventory: 1000 $5.00 1,000 $5,000.00 Purchases: 3-Oct 3500 2,000 $6.00 $12,000.00 1,500 $9,000.00 9-Oct 4000 4,000 $7.00 $28,000.00 19-Oct 2000 2000 $8.00 $16,000.00 25-Oct 2000 2000 $9.00 $18,000.00 10,000 $74,000.00 2,500 $14,000.00 ^ ^ Cost of Goods Sold ^ Cost of Goods Available for Sale $88,000.00 Ending Inventory Less: Ending Inventory $14,000.00 Cost of Goods Sold
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Unformatted text preview: $74,000.00 FIFO Untis Sold On Hand Inventory: 1000 1,000 $5.00 $5,000.00 Purchases: 3-Oct 3500 3,500 $6.00 $21,000.00 9-Oct 4000 4,000 $7.00 $28,000.00 19-Oct 2000 1,500 $8.00 $12,000.00 500 $4,000.00 25-Oct 2000 $9.00 2000 $18,000.00 10,000 $66,000.00 2,500 $22,000.00 ^ ^ Cost of Goods Sold ^ Ending Inventory Cost of Goods Available for Sale $88,000.00 Less: Ending Inventory $22,000.00 Cost of Goods Sold $66,000.00 Average Cost Method Average Unit cost: $88,000.00 / 12500 = $7.04 Ending Inventory: 2,500 * $7.04 = $17,600.00 Cost of Goods Sold: $88,000.00 -$17,600.00 = $70,400.00...
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