CH5 Inventory Examples

CH5 Inventory Examples - Sales Inventory Sales Inventory...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Inventory Example Farm and Feed sells fertilizer to farmers. Consider the following purchase and sale sequence: Date Inventory Purchase Sale Purchase Cost Jan 1 Beginning 250 Cases @ $46 11,500 Feb 25 Purchase 100 Cases @ $52 5,200 Mar 15 Sale 200 Cases June 15 Purchase 400 Cases @ $56 22,400 July 1 Sale 400 Cases Aug 15 Purchase 100 Cases @ $52 5,200 Oct 15 Purchase 300 Cases @ $56 16,800 Nov 12 Sale 400 Dec 15 Purchase 200 Cases @ $60 12,000 Dec 31 Ending 350 Total Goods Available for Sale 1,350 Cases Cost of Goods Available 73,100 Total Sales 1,000 Cases
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Specific Identification 03/15 Sale 07/01 Sale 11/12 Sale Sales Inventory Sales Inventory Sales Inventory Units CGS $ Units Value Units CGS $ Units Value Units CGS $ Units Value 150 6,900 100 4,600 50 2,300 50 2,300 50 2,300 50 2,600 50 2,600 50 2,600 - - 200 11,200 200 11,200 100 5,600 100 5,600 100 5,200 - 200 11,200 100 5,600 200 12,000 200 9,500 150 7,200 300 16,100 250 13,500 400 22,000 450 25,500 Total Units Sold 900 Total CGS 47,600 Ending Inventory 25,500 CGA 73,100
Background image of page 2
FIFO 03/15 Sale 07/01 Sale 11/12 Sale
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Sales Inventory Sales Inventory Sales Inventory Units CGS $ Units Value Units CGS $ Units Value Units CGS $ Units Value 200 9,200 50 2,300 50 2,300---100 5,200 100 5,200--250 14,000 150 8,400 150 8,400--100 5,200-150 8,400 150 8,400 200 12,000 200 9,200 150 7,500 400 21,500 150 8,400 400 22,000 350 20,400 Total Units Sold 1,000 Total CGS 52,700 Ending Inventory 20,400 CGA 73,100 LIFO 03/15 Sale 07/01 Sale 11/12 Sale Sales Inventory Sales Inventory Sales Inventory Units CGS $ Units Value Units CGS $ Units Value Units CGS $ Units Value 100 4,600 150 6,900 150 6,900 150 6,900 100 5,200----400 22,400--100 5,200-300 16,800--200 12,000 200 9,800 150 6,900 400 22,400 150 6,900 400 22,000 350 18,900 Total Units Sold 1,000 Total CGS 54,200 Ending Inventory 18,900 CGA 73,100...
View Full Document

This note was uploaded on 05/18/2008 for the course MGT 011A taught by Professor Hancock,john during the Fall '07 term at UC Davis.

Page1 / 4

CH5 Inventory Examples - Sales Inventory Sales Inventory...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online