u05a1_Schifflin.doc - u05a1 Schifflin BUS4060Unit 5...

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u05a1 Schifflin BUS4060—Unit 5 Assignment 1 Problem 5-1A 1. Compute cost of goods available for sale and units available for sale.
2. Units in ending inventory. Units available 820 units Less: Units sold 580 units Ending Inventory 240 units 3a. FIFO perpetual. =
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u05a1 Schifflin Mar. 25 200 Units @ $62.00 = $12,400.00 80 Units @ $55.00 = $4,400.00 120 Units @ $60.00 = $7,200.00 200 Units @ $62.00 = $12,400.00 Balance $24,000.00 Mar. 29 80 Units @ $55.00 = $4,400.00 80 Units @ $60.00 = $4,800.00 Total $9,200.00 40 Units @ $60.00 = $2,400.00 200 Units @ 62.00 = $12,400.00 Balance $14,800.00 Totals $41,600.00 $31,800.00 $14,800.00 3b. LIFO perpetual. Date Goods Purchased Cost of Goods Sold Inventory Balance Mar. 1 100 Units @ $50.00 Balance $5,000.00 Mar. 5 400 Units @ $55.00 = $22,000.00 100 Units @ $50.00 = $5,000.00 400 Units @ 55.00 = $22,000.00 Balance $27,000.00 Mar. 9 400 [email protected] $55.00 = $22,000.00

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