ACC 225 Week 6 CheckPoint - A. FIFO Date Goods Purchased...

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Unformatted text preview: A. FIFO Date Goods Purchased Cost of Goods Sold Inventory Balance 7-Dec 10@$6 =$60 10@$6 =$60 14-Dec 20@$12=$240 =$300 15-Dec 15@$12 =$180 21-Dec 15@$14=$210 =$390 B. LIFO Date Goods Purchased Cost of Goods Sold Inventory Balance 7-Dec 10@$6 =$60 10@$6 =$60 14-Dec 20@$12=$240 =$300 15-Dec 15@$12=$180 =$120 21-Dec 15@$14=$210 =$330 C. Weighted Average Date Goods Purchased Cost of Goods Sold Inventory Balance 7-Dec 10@$6 =$60 10@$6 =$60 14-Dec 20@$12=$240 =$300 15-Dec 15@$10=$150 15@$10 =$150 21-Dec 15@$14=$210 =$360 D. Specific Identification (2 units x $6) + (13 units x $12) + (15 units x $14) = $378 10@$6 20@$12 10@$6 5@$12 =$120 15@$12 15@$14 10@$6 20@$12 10@$6 5@$12 5@$12 15@$14 10@$6 20@$12 average cost is $10 15@$10 15@$14 average cost is $12 A. Specific Identification Ending Inventory Cost of Goods Sold (400 x $5.00) + (100 x $4.10) =$2410 $6380-$2410 =$3970 B. Weighted Average Perpetual Date Goods Purchased Cost of Goods Sold Inventory Balance 1-Jan 120@$6.00 =$720 10-Jan 70@$6=$420...
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This note was uploaded on 02/21/2012 for the course ACC 225 acc 225 taught by Professor Unknown during the Spring '10 term at University of Phoenix.

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ACC 225 Week 6 CheckPoint - A. FIFO Date Goods Purchased...

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