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Inventories - BB 80 5 0 2/1 88 30 5/1 3 1 9/1 39 50 11/1 55...

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Inventories FIFO Problem #1 FIFO Inventory BB 5,000 400 1,000 2/1 0 3/1 3,000 100 4,000 4/1 1,500 4/1 8,000 6,500 1,500 Sales 2/1 4,000 4/1 25,000 Total Sales 29,000 Sales 29,000 Cost of Goods Sold 6,500 Gross Margin 22,500 [email protected]$10 [email protected]$10 [email protected] $15 [email protected]$10 [email protected]$15 [email protected]$40 [email protected]
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Inventories LIFO Problem #1 LIFO Inventory BB 5,000 400 1,000 2/1 100 3/1 3,000 0 3,000 4/1 3,000 4/1 8,000 7,000 1,000 2/1 4,000 4/1 25,000 Total Sales 29,000 Sales 29,000 Cost of Goods Sold 7,000 Gross Margin 22,000 [email protected]$10 [email protected]$10 [email protected] $15 [email protected]$15 [email protected]$10 [email protected]$40 [email protected]
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Inventories FIFO Problem #2 FIFO Inventory
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Unformatted text preview: BB 80 5 0 2/1 88 30 5/1 3 1 9/1 39 50 11/1 55 11/1 22 12/1 207 157 50 5/1 60 11/1 220 12/1 52 Total Sales 332 Sales 332 Cost of Goods Sold 157 Gross Margin 175 [email protected]$10 [email protected]$11 [email protected]$10 [email protected]$13 [email protected]$10 [email protected]$11 [email protected]$11 [email protected]$20 [email protected] [email protected]$26 Inventories LIFO Problem #2 LIFO Inventory BB 80 6 4 2/1 88 33 5/1 5 0 9/1 39 39 11/1 0 55 20 20 12/1 207 167 40 5/1 60 11/1 220 12/1 52 Total Sales 332 Sales 332 Cost of Goods Sold 167 Gross Margin 165 [email protected]$10 [email protected]$11 [email protected]$11 [email protected]$13 [email protected]$13 [email protected]$11 [email protected]$10 [email protected]$10 [email protected]$20 [email protected] [email protected]$26...
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