e8-15fifo-lifo

e8-15fifo-lifo - Inventory Balance: Date Units Layer 1...

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Ex8-15 FIFO-LIFO FIFO: Transactions: Inventory Balance: Date Units Layer 1 Layer 2 Layer 3 Layer 4 Total Jun 1 300 300 Jun 10 (200) (200) Jun 11 800 800 Jun 15 (500) (100) (400) Jun 20 500 500 Jun 27 (300) (300) - 100 500 - 600 Cost $10 $12 $13 600 $- $1,200 $6,500 $- $7,700 Calculation of Cost of Goods Sold: Dollars Units Beg. inventory $3,000 300 Purchases 16,100 1,300 Goods available 19,100 1,600 Ending inventory (7,700) (600) COGS $11,400 1,000 LIFO: Transactions:
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Unformatted text preview: Inventory Balance: Date Units Layer 1 Layer 2 Layer 3 Layer 4 Total Jun 1 300 300 Jun 10 (200) (200) Jun 11 800 800 Jun 15 (500) (500) Jun 20 500 500 Jun 27 (300) (300) 100 300 200 - 600 Cost $10 $12 $13 600 $1,000 $3,600 $2,600 $- $7,200 Calculation of Cost of Goods Sold: Dollars Units Beg. inventory $3,000 300 Purchases 16,100 1,300 Goods available $19,100 1,600 Inventory (7,200) (600) COGS $11,900 1,000...
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This note was uploaded on 03/01/2009 for the course ECON ECON 3B taught by Professor Harmon during the Spring '08 term at UCSB.

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