ACC205-Week3-post2

ACC205-Week3-post2 - E6-20 A.)FIFO Date 1 2 3 Quanity 8...

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Unformatted text preview: E6-20 A.)FIFO Date 1 2 3 Quanity 8 Purchase Cost of Goods Sold Unit Cost Total Cost Quanity Unit Cost Total Cost 75 600 15 60 900 Quanity Invetory on Hand Unit Cost 20 60 20 60 8 75 5 60 8 75 B). LIFO Date 1 2 3 Quanity 8 Purchase Cost of Goods Sold Unit Cost Total Cost Quanity Unit Cost Total Cost 75 600 7 8 60 75 Invetory on Hand Quanity Unit Cost 20 60 20 60 8 75 420 13 60 600 Invetory on Hand Quanity Unit Cost 20 60 28 64 964 13 64 C). Average Date 1 2 3 Quanity 8 Purchase Cost of Goods Sold Unit Cost Total Cost Quanity Unit Cost Total Cost 75 600 15 64 FIFO LIFO Average 1,650 1,650 1,650 900 1,020 964 750 630 686 Sales Revenue Cost of Goods Sold Gross Profit E6-26 Beginning Inventory Add: Net Purchase Equals: Cost of Goods Available Less: Estimated cost of Goods Sold Sales Verenue Less: Estimated Gross Profit Less: Estimated cost of Goods Sold Equals: Estimated Cost of End Inventory (Amount lost in fire) 150,000 800,000 950,000 1,000,000 (400,000) (600,000) 350,000 etory on Hand Total Cost 1,200 1,200 600 300 600 etory on Hand Total Cost 1,200 1,200 600 680 etory on Hand Total Cost 1,200 1,800 836 ...
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This note was uploaded on 02/03/2011 for the course ACC 205 taught by Professor Robertcarr during the Spring '10 term at Ashford University.

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ACC205-Week3-post2 - E6-20 A.)FIFO Date 1 2 3 Quanity 8...

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