week 4 self check

# week 4 self check - AC 201 Week Four Solutions Problem 6-1A...

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Problem 6-1A 1. Compute cost of goods available for sale and units available for sale Beginning inventory. ....................... 5 units @ \$500 \$ 2,500 January 5......................................... 20 units @ \$550 11,000 January 18. ....................................... 6 units @ \$600 3,600 January 25. ....................................... 10 units @ \$620 6,200 Units available. ................................. 41 units Cost of goods available for sale \$23,300 2. Units in ending inventory Units available (from part 1 )........... 41 units Less: Units sold (21 + 8). ................. 29 units Ending Inventory (units). ................ 12 units 3a. FIFO perpetual Date Goods Purchased Cost of Goods Sold Inventory Balance Jan. 1 5 @ \$500 = \$ 2,500 Jan. 5 20 @ \$550 = \$11,000 5 @ \$500 20 @ \$550 = \$13,500 Jan. 9 5 @ \$500 = \$ 2,500 16 @ \$550 = \$ 8,800 4 @ \$550 = \$ 2,200 Jan. 18 6 @ \$600 = \$ 3,600 4 @ \$550 6 @ \$600 = \$ 5,800 Jan. 25 10 @ \$620 = \$ 6,200 4 @ \$550 6 @ \$600

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week 4 self check - AC 201 Week Four Solutions Problem 6-1A...

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