#3 - Cost of goods sold $18,120 PROOF Date Units Unit Cost...

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Mike Gemmati ACC 281-03 HW #3 (a) FIFO Units Unit Cost Beginning inventory Oct 1 400 $10.00 Purchases 8-Oct 800 $10.40 16-Oct 600 $10.80 24-Oct 200 $11.60 Cost of goods available for sale (2,000 units) Less: Ending inventory 200 $11.60 100 $10.80 Cost of goods sold PROOF- Cost of Goods Sold Date Units Unit Cost 1-Oct 400 $10.00 8-Oct 800 $10.40 16-Oct 500 $10.80 1700
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Total $4,000 $8,320 $6,480 $2,320 $17,120 $21,120 $2,320 $1,080 $3,400 $17,720 Total Cost $4,000 $8,320 $5,400 17,720
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Mike Gemmati ACC 281-03 HW #3 (C) LIFO Units Unit Cost Total Beginning inventory Oct 1 400 $10.00 $4,000 Purchases 8-Oct 800 $10.40 $8,320 16-Oct 600 $10.80 $6,480 24-Oct 200 $11.60 $2,320 $17,120 Cost of goods available for sale (2,000 units) $21,120 less: Ending inventory (2,000-1,700) 300 $10.00 $3,000
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Unformatted text preview: Cost of goods sold $18,120 PROOF Date Units Unit Cost Total Cost 1-Oct 100 $10.00 $1,000 8-Oct 800 $10.40 $8,320 16-Oct 600 $10.80 $6,480 24-Oct 200 $11.60 $2,320 1600 $18,120 Average Cost ÷ = $21,120 2000 $10.56 Ending Inventory Units x Unit Cost = Total Cost 300 $10.56 $3,168 Cost of Goods Sold-Ending Inventory = $21,120 $3,168 $17,952 Costs of Goods Available for Sale Total Units Available for Sale Weighted Average Unit Cost Cost of Goods Available for Sale Cost of Goods Sold NAME Mike Gemmati Course ACC 281-03 Part D FIFO LIFO Weight Avg Sales $34,000 $34,000 $34,000 Cost of Goods Sold $17,720 $18,120 $17,952 Gross Profit $16,280 $15,880 $16,048...
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This note was uploaded on 03/16/2009 for the course ACC 281 taught by Professor Yang during the Spring '08 term at SUNY Brockport.

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#3 - Cost of goods sold $18,120 PROOF Date Units Unit Cost...

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