Chapter 06

# Chapter 06 - Problem 6-1A 1 Calculate cost of goods...

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Problem 6-1A 1. Calculate cost of goods available for sale and units available for sale Beginning inventory. ................................... 600 units @ \$44 \$26,400 Feb. 10 200 units @ \$40 8,000 Mar. 13. ...................................................... 100 units @ \$20 2,000 Aug. 21. ...................................................... 160 units @ \$60 9,600 Sept. 5....................................................... 280 units @ \$48 13,440 Units available. ............................................ 1,340 units Cost of goods available for sale \$59,440 2. Units in ending inventory Units available (from part 1 )...................... 1,340 Less: Units sold (400+200). ......................... 600 Ending Inventory (units). ........................... 740

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3a. FIFO perpetual Date Goods Purchased Cost of Goods Sold Inventory Balance 1/1 600 @ \$44 = \$26,400 2/10 200 @ \$40 = \$ 8,000 600 @ \$44 200 @ \$40 = \$34,400 3/13 100 @ \$20 = \$ 2,000 600 @ \$44 200 @ \$40 = \$36,400 100 @ \$20 3/15 400 @ \$44 = \$17,600 200 @ \$44 200 @ \$40 100 @ \$20 8/21 160 @ \$60 = \$ 9,600 200 @ \$44
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Chapter 06 - Problem 6-1A 1 Calculate cost of goods...

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