CHAPTER_6_WORKPAPERS

CHAPTER_6_WORKPAPERS - 6-1NameChapter 6 Brief Exercises...

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Unformatted text preview: 6-1NameChapter 6 Brief Exercises SectionDateBE6-11 (a)122334 (b)455667 (c)7889910 (d)10111112121313141415BE6-2151616171718181919202021BE6-3(a) FIFO(b) LIFO2122UnitsUnit CostTotalUnitsUnit CostTotal222323242425Ending inventoryEnding inventory25262627BE6-4UnitsUnit CostTotal272828292930303131323233Average cost per unit33343435Ending inventory35363637373838393940406-16-2NameChapter 6 Brief Exercises ContinuedSectionDateBE6-51 (a)12 (b)23 (c)3445 (d)56677889BE6-6Cost of goods sold under:LIFOFIFO910Purchases101111121213Cost of goods available for sale1314Less: Ending inventory1415Cost of goods sold1516161717181819192020212122222323242425BE6-7CostMarketLCM2526Inventory categories:2627 Cameras2728 Camcorders2829 VCRs2930 Total valuation30313132BE6-832333334343535363637373838393940406-26-3NameChapter 6 Brief Exercises ContinuedSectionDate BE6-91 Inventory turnover:12233445 Days in inventory:56677889*BE6-10910 (1)FIFO Method1011Product E2-D21112DatePurchasesCost of Goods SoldBalance12131314141515161617171818191920 (2)LIFO Method2021DatePurchasesCost of Goods SoldBalance212222232324242525262627272828292930 (3)Average-Cost3031DatePurchasesCost of Goods SoldBalance313232333334343535363637373838393940406-4NameChapter 6 Brief Exercises ConcludedSectionDate*BE6-111 (1)12233445 (2)56677889*BE6-12At CostAt Retail 9101011111212131314Cost-to-retail ratio:14151516Estimated cost of ending inventory:161717181819192020212122222323242425256-46-5NameExercises 6-1 and 6-2SectionDateE6-11 Ending Inventory - physical count$297,000 12233445566778899101011111212131314E6-21415 Ending inventory - as reported$740,000 1516161717181819192020212122222323242425252626272728282929303031313232333334343535363637373838393940406-56-6NameExercise 6-3SectionDateBargain Electronics Ltd.1 (a)1223344556 (b)677889910101111121213131414151516 (c)161717181819192020212122222323242425256-66-7NameExercise 6-4SectionDateBoarders(a)FIFO11223344556677889 Proof:910DateUnitsUnit CostTotal Cost101111121213131414151516LIFO1617171818191920 Proof:2021DateUnitsUnit CostTotal Cost212222232324242525262627272828292930 (b)303131323233333434353536363737383839396-76-8NameExercise 6-5SectionDateCatlet Co.FIFO11223344556677889 Proof:910DateUnitsUnit CostTotal Cost101111121213131414151516LIFO1617171818191920 Proof:2021DateUnitsUnit CostTotal Cost212222232324242525262627272828292930303131323233333434353536363737383839396-86-9NameExercise 6-6SectionDateYount Company1 (a) (1)FIFO1223344556677889910101111121213 (2)LIFO13141415151616171718181919202021212222232324 (b)2425252626272728282929303031 (c)313232333334343535363637373838393940406-96-10NameExercise 6-7SectionDateJones Company1 (a) (1)FIFO12233445566778(2)LIFO8991010111112121313141415(3)AVERAGE1516161717181819192020212122 (b)2223232424252526 (c)2627272828292930 (d)3031313232333334343535363637373838393940406-106-11NameExercises 6-8 to 6-10SectionDateE6-8Total UnitsWeightedCost of GoodsAvaialable AverageAvailable for Sale÷for Sale=Unit Cost1 (a)1223Ending inventory34Cost of goods sold...
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This note was uploaded on 02/07/2011 for the course ACCNT 202 taught by Professor Patcoughlin during the Spring '11 term at Everett CC.

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CHAPTER_6_WORKPAPERS - 6-1NameChapter 6 Brief Exercises...

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