U5A1.doc - u05a1 Template BUS4060Unit 5 Assignment 1...

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u05a1 Template 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 (420+160) Ending Inventory 240 units 3a. FIFO perpetual.
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u05a1 Template = 24,000.00 Mar. 29 [email protected] 50.00=0 [email protected] $55.00 = $4,400.00 [email protected] $60.00 = $4,800.00 [email protected] 62.00=0 = $9,200.00 [email protected] 50.00 [email protected] 55.00 [email protected] 60.00 = 2,400.00 [email protected] 62.00 = 12,400.00 $14,800.00 Totals $31,800.00 $14,800.00 2
u05a1 Template 3b. LIFO perpetual. Date Goods Purchased Cost of Goods Sold Inventory Balance Mar. 1 [email protected] $50.00 = $5,000.00 Mar. 5 [email protected] $55.00 100 @ $50.00 = $5,000.00 400 @ $55.00 = 22,000.00 $27,000.00 Mar. 9 20 @ $50.00 = $1,000.00 400 @ $55.00 = 22,000.00 $23,000.00 80 @ $50.00 = $4,000.00 [email protected] $55.00 = $4,000.00 Mar. 18 [email protected] $60.00 80 @ $50.00 = $4,000.00 [email protected] $55.00 120 @ $60.00 = 7,200.00 $11,200.00 Mar. 25 [email protected] $62.00 80 @ $50.00 = $4,000.00 0 @ $55.00 120 @ $60.00 = 7,200.00 200 @ $62.00 12,400.00 $23,600.00 Mar. 29 [email protected] $50.00 = 0 [email protected] $55.00 = 0 [email protected] $60.00 = 0 [email protected] $62.00 = $9,920 [email protected] $50.00 = $4,000.00 [email protected] $55.00 = 0 [email protected] $60.00 = $7,200.00 [email protected] @62.00 = 2,480.00 $13,680.00 Totals $32,920.00

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