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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