ECON
e8-15fifo-lifo

# e8-15fifo-lifo - Ex8_15 FIFO_LIFO FIFO Transactions...

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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: Inventory Balance:
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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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• Spring '08
• Harmon
• 1970, 1978, 1977, 1996

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