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Week Four Assignment

# Week Four Assignment - Exercise 6-3 Name Section D E F...

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Exercise 6-3 Name Anthony Arostegui Section ACCT 212 A B C D E F G H 5 Data Input Section: 6 Microsoft Corporation 7 No. of Cost per Total 8 Units Unit Cost 9 Oct. 1 Beginning inventory 5 \$160 \$800 10 Purchases: 11 Oct. 8 4 \$160 \$640 12 Oct. 15 11 \$170 \$1,870 13 Oct. 26 5 \$180 \$900 14 Oct. 31, Goods available 25 \$4,210 15 Ending inventory (in units) 8 16 Average cost \$168.40 17 Output Section: 18 Units Cost Amount 19 a. Specific unit cost 20 Three @ \$160 3 \$160 \$480 21 Five @ \$180 5 \$180 \$900 22 Ending inventory \$1,380 23 Cost of goods sold--specific unit \$2,830 24 25 Units Cost Amount 26 b. Ending inventory using average cost 27 Ending inventory 8 \$168.40 \$1,347 28 Cost of goods sold--average cost \$2,863 29 30 Units Cost Amount 31 c. Ending inventory using FIFO 32 Oct. 1 5 \$180 \$900 33 Oct. 31 3 \$170 \$510 34 Ending inventory \$1,410 35 Cost of goods sold--FIFO \$2,800 36 37 Units Cost Amount 38 d. Ending inventory using LIFO 39 Oct. 31 8 \$160 \$1,280 41 Ending inventory \$1,280 42 Cost of goods sold--LIFO \$2,930 43 44 Part 2. 45 LIFO produced the highest cost of goods sold. 46 FIFO produced the lowest cost of goods sold.

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