CP+Templates - FIFO Date Goods Purchased 7-Dec 10 units @...

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Unformatted text preview: FIFO Date Goods Purchased 7-Dec 10 units @ $6 = $60 14-Dec 20 units @ $12 = $240 15-Dec 21-Dec 15 units @ $14=$210 31-Dec Cost of Goods Sold Inventory Balance 10 units @ $6 = $60 20 units @ $12 =$240 total =$300 15 units @ $12=$180 15 units @ $14=$210 total =$390 15 units @ $12=$180 15 units @ $14=$210 total =$390 10 units @ $6=$60 5 units @ $12=$60 LIFO Date Goods Purchased 7-Dec 10 units @ $6=$60 14-Dec 20 units @ $12=$240 15-Dec 21-Dec 15 units @ $14=$210 Cost of Goods Sold Inventory Balance 10 units @ $6=$60 20 units @ $12=$240 total =$300 10 units @ $6=$60 5 units @ $12=$60 total=$120 10 units @ $6=$60 5 units @ $12=$60 15 units @ $14=$210 total =$330 10 units @ $6=$60 5 units @ $12=$60 15 units @ $14=$210 total =$330 15 units @ $12=$180 31-Dec Weighted Average Date Goods Purchased 7-Dec 10 units @ $6=$60 14-Dec 20 units @ $12=$240 15-Dec 21-Dec 15 units @ $14=$210 31-Dec Cost of Goods Sold Inventory Balance 10 units @ $6=$60 10 units @ $6=$60 20 units @ $12=$240 total=$300 15 units @ $10=$150 15 units @ $10=$150 15 units @ $14=$210 total=$360 15 units @ $10=$150 15 units @ $14=$210 total=$360 15 units @ $10=$150 Specific ID Date Goods Purchased 7-Dec 10 units @ $6=$60 14-Dec 20 units @ $12=$240 15-Dec 21-Dec 15 units @ $14=$210 Cost of Goods Sold Inventory Balance 10 units @ $6=$60 10 units @ $6=$60 20 units @ $12=$240 total=$300 2 units @ $6=$12 13 units @ $12=$156 total=$168 2 units @ $6=$12 13 units @ $12=$156 15 units @ $14=$210 total=$378 2 units @ $6=$12 13 units @ $12=$156 15 units @ $14=$210 total=$378 8 units @ $6=$48 7 units @ $12=84 31-Dec Inventory Balance 0 units @ $6 = $60 0 units @ $12 =$240 total =$300 5 units @ $12=$180 5 units @ $14=$210 total =$390 5 units @ $12=$180 5 units @ $14=$210 total =$390 Inventory Balance 0 units @ $6=$60 0 units @ $12=$240 total =$300 0 units @ $6=$60 units @ $12=$60 total=$120 0 units @ $6=$60 units @ $12=$60 5 units @ $14=$210 total =$330 0 units @ $6=$60 units @ $12=$60 5 units @ $14=$210 total =$330 Inventory Balance 0 units @ $6=$60 0 units @ $6=$60 0 units @ $12=$240 total=$300 5 units @ $10=$150 5 units @ $10=$150 5 units @ $14=$210 total=$360 5 units @ $10=$150 5 units @ $14=$210 total=$360 Inventory Balance 0 units @ $6=$60 0 units @ $6=$60 0 units @ $12=$240 total=$300 units @ $6=$12 3 units @ $12=$156 total=$168 units @ $6=$12 3 units @ $12=$156 5 units @ $14=$210 total=$378 units @ $6=$12 3 units @ $12=$156 5 units @ $14=$210 total=$378 a) Specific ID Ending Inventory 400 units @ $5=$2000 100 units @$4.10=$410 Cost of Goods Sold Computations 400 units @ $5=$2000 100 units @$4.10=$410 total=$2410 b) Weighted Average Perpetual Date Goods Purchased 1­Jan 120 units @ $6=$720 10­Jan 7­Mar 200 units @ $5.50=$1100 15­Mar 28­Jul 500 units @ $5=$2500 3­Oct 375 units @ $4.40=$1650 5­Oct 9­Dec 100 units @ $4.10= $410 $6,380 Cost of Goods Sold 70 units @ $6=$420 125 units @ $5.60=$700 600 units @$4.85=$2910 $4,030 Inventory Balance 120 units @ $6=$720 50 units @ $6=$300 50 units @ $6=$300 200 units @ $5.50=$1100 250 units @$5.60=$1400 125 units @$5.60=$700 125 units @$5.60=$700 500 units @ $5=$2500 375 units @ $4.40=$1650 400 units @ $4.85= $1940 400 units @ $4.85= $1940 100 units @ $4.10= $410 c) FIFO Perpetual Date Goods Purchased 1­Jan 120 units @ $6=$720 10­Jan 7­Mar 200 units @ $5.50=$1100 15­Mar 28­Jul 500 units @ $5=$2500 3­Oct 375 units @ $4.40=$1650 5­Oct 9­Dec 100 units @ $4.10=$410 Cost of Goods Sold 70 units @ $6=$420 50 units @ $6=$300 75 units @ $5.50=$412.50 125 units @ $5.50=$687.50 475 units @ $5=$2375 $6,380 $4,195.00 Inventory Balance 120 units @ $6=$720 50 units @ $6=$300 200 units @ $5.50=$1100 to 125 units @ $5.50=$687.50 500 units @ $5=$2500 375 units @ $4.40=$1650 to 25 units @ $5=$125 375 units @ $4.40=$1650 to 100 units @ $4.10=$410 d) LIFO Perpetual Date Goods Purchased 1­Jan 120 units @ $6=$720 10­Jan 7­Mar 200 units @ $5.50=$1100 15­Mar 28­Jul 500 units @ $5=$2500 3­Oct 375 units @ $4.40=$1650 5­Oct Cost of Goods Sold 70 units @ $6=$420 125 units @ $5.50=$687.5 375 units @ $4.40=$1650 225 units @ $5=$1125 Inventory Balance 120 units @ $6=$720 50 units @ $6=$300 200 units @ $5.50=$1100 to 75 units @ $5.50=412.50 50 units @ $6=$300 total=$7 500 units @ $5=$2500 375 units @ $4.40=$1650 to 9­Dec 100 units @ $4.10=$410 $6,380 $3,882.50 275 units @ $5=$1375 75 units @ $5.50=412.50 50 units @ $6=$300 total=$2 100 units @ $4.10=$410 Computations 00 units @ $5=$2000 00 units @$4.10=$410 tal=$2410 Inventory Balance 20 units @ $6=$720 0 units @ $6=$300 0 units @ $6=$300 00 units @ $5.50=$1100 50 units @$5.60=$1400 25 units @$5.60=$700 25 units @$5.60=$700 00 units @ $5=$2500 75 units @ $4.40=$1650 00 units @ $4.85= $1940 00 units @ $4.85= $1940 00 units @ $4.10= $410 $2,350 Inventory Balance 20 units @ $6=$720 0 units @ $6=$300 00 units @ $5.50=$1100 total=$1400 25 units @ $5.50=$687.50 00 units @ $5=$2500 75 units @ $4.40=$1650 total=$4837.50 5 units @ $5=$125 75 units @ $4.40=$1650 total=$1775 00 units @ $4.10=$410 total= $2185 Inventory Balance 20 units @ $6=$720 0 units @ $6=$300 00 units @ $5.50=$1100 total=$1400 5 units @ $5.50=412.50 0 units @ $6=$300 total=$712.50 00 units @ $5=$2500 75 units @ $4.40=$1650 total=$4862.50 75 units @ $5=$1375 5 units @ $5.50=412.50 0 units @ $6=$300 total=$2087.50 00 units @ $4.10=$410 $2,497.50 Inventory Items helmets bats shoes uniforms Units 22 15 36 40 Per Unit Cost Market $50 $54 $78 $72 $95 $91 $36 $36 Total Cost $1,100 $1,170 $3,420 $1,440 $7,130 Total LCM Applied to Market Products Whole $1,188 1100 1100 $1,080 1080 1070 $3,276 3276 3276 $1,440 1440 1440 $6,984 $6,896 $6,886 ...
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This note was uploaded on 06/13/2010 for the course ACCOUNTING 250 taught by Professor Connie during the Spring '10 term at Phoenix School of Law.

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