ACCT Chapter 5 Excel - INVENTORY COSTING ILLUSTRATION...

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INVENTORY COSTING ILLUSTRATION Details of a particular item of Inventory are given below: 1-Nov Beg Inventory 5 units @$ 4 Determine the COGS, End Inv. and Gross Profit 6-Nov Purchase 9 units @ $ 6 using -Specific Identification (SI) 16-Nov Sale 10 units -FIFO 26-Nov Purchase 15 units @ 8 -LIFO 30-Nov Sale 12 units -Weighted Average (WA) Selling Price of Units is $15 SPECIFIC IDENTIFICATION: Nov 16 Sale :4 units pur @ $4 and 6 units pur a@ $6 Nov 30 Sale : 2 units pur @ $6 and10 units pur @ $8 DATE GOODS PURCHASED COST OF GOODS SOLD INVENTORY BALANCE Units Cost Total Units Cost Total Units Cost Total 1-Nov 6-Nov 16-Nov 26-Nov 30-Nov TOTAL FIFO: DATE GOODS PURCHASED COST OF GOODS SOLD INVENTORY BALANCE Units Cost Total Units Cost Total Units Cost Total 1-Nov 6-Nov 16-Nov 26-Nov 30-Nov TOTAL LIFO:
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DATE GOODS PURCHASED COST OF GOODS SOLD INVENTORY BALANCE Units Cost Total Units Cost Total Units Cost Total 1-Nov 6-Nov 16-Nov 26-Nov 30-Nov TOTAL WEIGHTED AVERAGE: DATE GOODS PURCHASED COST OF GOODS SOLD
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This note was uploaded on 05/26/2011 for the course ACCT 2101 taught by Professor Bhan during the Spring '07 term at University of Georgia Athens.

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ACCT Chapter 5 Excel - INVENTORY COSTING ILLUSTRATION...

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