BUAD 305 HW5

BUAD 305 HW5 - 2.) Cost of Good Sold Units Cost Unit 25 $60...

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BUAD 305 Homework 5 E 6-2 1.) Not  Adjust, the goods belong to Anya Corporation 2.) Add $40,000, ship in - FOB shipping point 3.)Not Adjust.  4.) Not adjust,  it is in transit. 5.) Add $60,000, ship out- FOB shipping point 6.) Not adjust. E 6-9 Market Lower of  Units Cost/ Unit Value/Unit Cost Market Cost or Market Cameras   Minolta 5 $175  $160  $875 $800 $800   Canon 7 150 152 1050 1064 1050 Light Meters   Vivitar 12 125 119 1500 1428 1428   Kodak 10 115 135 1150 1350 1150 Total Inventory: $4,575 $4,642 $4,428 P 6-5B A.)  LIFO Units Cost Unit 1) Ending Inventoy 25 $60  $1,500  15 64 $960  $2,460  2.) Cost of Good Sold Units Cost Unit 25 $60  $1,500  70 64 $4,480  25 68 $1,700  $7,680  3 Sales Units Cost Unit 65 $90  $5,850 50 95 4750 $10,600 Less cost of Good sold $7,680  Gross profit $2,920 4) Gross Profit Rate: 2920/10600 = 27.55%
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FIFO Units Cost Unit 1) Ending Inventoy 20 $68  $1,360  20 75 $1,500  $2,860 
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Unformatted text preview: 2.) Cost of Good Sold Units Cost Unit 25 $60 $1,500 85 64 $5,440 5 68 $340 $7,280 3.) Sales Units Cost Unit 65 $90 $5,850 50 95 4750 $10,600 Less cost of Good sold $7,280 Gross profit $3,320 4) Gross Profit Rate: 3320/10600 = 31.32% Average Cost Units Cost Unit 1.)Purchase 25 $60 $1,500 85 64 5440 25 68 1700 20 75 1500 Adverage unit cost $10,140 /155=$65.42 Ending Inventory: 40 $65.42 $2,617 2.) Cost of Good Sold 115 65.42 $7,523 3.) Gross Profit: 10600-7523 = $3077 4.) Gross Profit Rate: 3077/10600 = 29.03% B.) The earlier purchas prices are lower than the recent puchase. Higher gross profit on FIFO, Higher cost of Good sold on LIFO, so the FIFO show a highe profir compare to LIFO and Average cost methos....
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BUAD 305 HW5 - 2.) Cost of Good Sold Units Cost Unit 25 $60...

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