ACC HW6b - Inventory 100 100 $21 $2,100 Purchases 15-Mar...

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Maya Jordan 18-Oct HW 6 P6-3A Date Units Unit Cost Total Cost Beg Inv 100 $21 $2,100 15-Mar 300 $24 $7,200 20-Jul 200 $25 $5,000 4-Sep 300 $28 $8,400 2-Dec 100 $30 $3,000 1000 $25,700 <~~ Cost of Goods Available for Sale LIFO Units Sold On Hand Inventory 100 $21 100 $2,100 Purchases: 15-Mar 300 100 $24 $2,400 200 $4,800 20-Jul 200 200 $25 $5,000 4-Sep 300 300 $28 $8,400 2-Dec 100 100 $30 $3,000 Totals 700 $18,800 300 $6,900 ^ ^ Cost of Goods Sold ^ Ending Inventory Cost of Goods Available for Sale: $25,700 Less: Ending Inventory: $6,900 Cost of Goods Sold: $18,800 FIFO Units Sold On Hand
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Unformatted text preview: Inventory 100 100 $21 $2,100 Purchases: 15-Mar 300 300 $24 $7,200 20-Jul 200 200 $25 $5,000 4-Sep 300 100 $28 $2,800 200 $5,600 2-Dec 100 $30 100 $3,000 Totals 700 $17,100 300 $8,600 ^ ^ Cost of Goods Sold ^ Ending Inventory Cost of Goods Available for Sale: $25,700 Less: Ending Inventory: 8600 Cost of Goods Sold: $17,100 Average Cost Method Average Unit Cost: $25,700 / 1000 = $25.70 Ending Inventory: 300 * $25.70 = $7,710.00 Cost of Goods Sold: $25,700 -$7,710.00 = $17,990.00...
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This note was uploaded on 04/17/2008 for the course ACC 201 taught by Professor Staff during the Fall '06 term at CUNY Lehman.

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