Module5Chp8P8-6HW

Module5Chp8P8-6HW - Problem86...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Problem 8-6 Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1-Jan Beg. Inv. 1,000 $12 4-Feb Purchase 2,000 $18 20-Feb Sale 2,500 $30 2-Apr Purchase 3,000 $23 4-Nov Sale 2,200 $33 Compute the COGS, assuming Ehlo uses: a) Periodic system, FIFO cost flow: Date No. Units Unit Cost Total Cost 2-Apr 1,300 $23 $29,900 Ending Inventory 1,300 $29,900 COG Available for Sale $117,000 Deduct: Ending Inventory $29,900 COGS $87,100 b) Perpetual system, FIFO cost flow: Date Purchased Sold or Issued Balance 1-Jan 1000 @ $12 $12,000 1000@ $12 $12,000 4-Feb 2000 @ $18 $36,000 1000@ $12 $48,000 [email protected] 20-Feb 2500 @ $30 75,000 [email protected] $9,000 2-Apr 3000 @ $23 $69,000 1300 @ $23 $29,900 4-Nov 2200 @ $33 72,600 -$39,100 147,600 COGS c) Periodic system, LIFO cost flow: 59,800
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Date of Invoice No. Units Unit Cost Total Cost 1-Jan 1,000 $12 $12,000
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/06/2011 for the course ACC 300 taught by Professor Barga during the Spring '11 term at St. Leo.

Page1 / 3

Module5Chp8P8-6HW - Problem86...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online