# 6_1B - Problem 6-1B(40 minutes 1 Compute cost of goods...

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Problem 6-1B (40 minutes) 1. Compute cost of goods available for sale and units available for sale Beginning inventory. ....................... 700 units @ \$55 = \$ 38,500 Jan. 10. ............................................. 550 units @ \$56 = 30,800 Feb. 13. ............................................. 220 units @ \$57 = 12,540 July 21. ............................................. 270 units @ \$58 = 15,660 Aug. 5.............................................. 445 units @ \$59 = 26,255 Units available. ................................ 2,185 units Cost of goods available for sale. ... \$123,755 2. Units in ending inventory Units available (from part 1 )........... 2,185 Less: Units sold (given). ................. 1,6 50 Ending Inventory. ............................. 535

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Problem 6-1B (Continued) 3a. FIFO perpetual Date Goods Purchased Cost of Goods Sold Inventory Balance 1/1 700 @ \$55 = \$38,500 1/10 550 @ \$56 = \$30,800 700 @ \$55 550 @ \$56 2/13 220 @ \$57 = \$12,540 700 @ \$55 550 @ \$56 = \$81,840 220 @ \$57 2/15 700 @ \$55 200 @ \$56 = \$49,700 350 @ \$56 220 @ \$57 = \$32,140 7/21 270 @ \$58 = \$15,660 350 @ \$56 220 @ \$57 270 @ \$58 8/5 445 @ \$59 = \$26,255 350 @ \$56 220 @ \$57 270 @ \$58 = \$74,055 445 @ \$59 8/10 350 @ \$56 220 @ \$57 = \$42,580
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6_1B - Problem 6-1B(40 minutes 1 Compute cost of goods...

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