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practice_midterm ch 7-9

practice_midterm ch 7-9 - Name Perpetual LIFO Date Units...

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Name Perpetual LIFO Date Units Price 1-Jun 3-Jun 7-Jun 15-Jun 22-Jun 1-Jun 800 $3.20 800 2-Jun (600) $5.50 (600) 3-Jun 2,200 $3.10 2,200 6-Jun (1,600) $5.50 (1,600) 7-Jun 1,200 $3.30 1,200 9-Jun (1,000) $5.50 (1,000) 10-Jun (400) $6.00 (200) (200) 15-Jun 1,800 $3.40 1,800 18-Jun (1,400) $6.00 (1,400) 22-Jun 500 $3.50 500 25-Jun (200) $6.00 (200) 1,300 200 400 - 400 300 Cost $3.20 $3.10 $3.30 $3.40 $3.50 Value $640.00 $1,240.00 $- $1,360.00 $1,050.00 $4,290.00 Perpetual FIFO Date Units Price 1-Jun 3-Jun 7-Jun 15-Jun 22-Jun 1-Jun 800 $3.20 800 2-Jun (600) $5.50 (600) 3-Jun 2,200 $3.10 2,200 6-Jun (1,600) $5.50 (200) (1,400) 7-Jun 1,200 $3.30 1,200 9-Jun (1,000) $5.50 (800) (200) 10-Jun (400) $6.00 (400) 15-Jun 1,800 $3.40 1,800 18-Jun (1,400) $6.00 (600) (800) 22-Jun 500 $3.50 500 25-Jun (200) $6.00 (200) - 1,300 - - - 800 500 Cost $3.20 $3.10 $3.30 $3.40 $3.50 Value $- $- $- $2,720.00 $1,750.00 $4,470.00 Periodic FIFO -- Show work only if needed. Date Units Price 1-Jun 3-Jun 7-Jun 15-Jun 22-Jun 1-Jun 800 $3.20 800 2-Jun (600) $5.50 (600) 3-Jun 2,200 $3.10 2,200 6-Jun (1,600) $5.50 (200) (1,400) 7-Jun 1,200 $3.30 1,200 9-Jun (1,000) $5.50 (800) (200) 10-Jun (400) $6.00 (400) 15-Jun 1,800 $3.40 1,800 18-Jun (1,400) $6.00 (600) (800) 22-Jun 500 $3.50 500 25-Jun (200) $6.00 (200) - 1,300 - - - 800 500 Cost
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