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# week 4 homework answers 2 - Problem 6-1A 1 Compute cost of...

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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 10 @ \$620 = \$12,000 Jan. 29 4 @ \$550 = \$ 2,200 4 @ \$600 = \$ 2,400 2 @ \$600 10 @ \$620 = \$ 7,400 \$15,900

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Problem 6-1A (Continued) 3b. LIFO 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 20 @ \$550 = \$11,000 1 @ \$500 = \$ 500 4 @ \$500 = \$ 2,000 Jan. 18 6 @ \$600 = \$ 3,600 4 @ \$500 6 @ \$600 = \$ 5,600 Jan. 25 10 @ \$620 = \$ 6,200 4 @ \$500 6 @ \$600 10 @ \$620 = \$11,800 Jan. 29 8 @ \$620 = \$ 4,960 4 @ \$500 6 @ \$600

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week 4 homework answers 2 - Problem 6-1A 1 Compute cost of...

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