3 purchase 4000 6 24000 oct 9 purchase 3000 7 21000

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Oct .3Purchase4000624000Oct .9Purchase3000721000Oct .19Purchase2500820000Oct .25Purchase2000918000Total units available for sale1270089000Units in ending inventory3300Units sold9400(2) FIFODateUnitsUnit CostTotal CostOct.252000918000Cost of goods available for sale89000Oct.191300810400Less: Ending inventory28400Total330028400Cost of goods sold60600LIFODateUnitsUnit CostTotal CostOct.11200$56000Cost of goods available for sale89000Oct.3-7006-4200Less: Ending inventory18600Oct.9300072100Total620018600Cost of goods sold70400Average Cost$89,000 / 12700 =$7.00Cost of goods available for sale89000UnitsUnit CostTotal CostLess: Ending inventoryCost of goods sold23100330072310065900(C)LIFO is the highest inventory amount and FIFO is the highest cost of goods sold. 6-3B from Chapter 6.
Trattner CompanyDateExplanationUnitsCostTotal CostJan .1Beginning inventory100$202000Mar .15Purchase300236900July .20Purchase250256250Sept .4Purchase290288120Dec.2Purchase130303900Total1070$12627170(B) (1)DateExplanationUnitsCostTotal CostJan .1Beginning inventory100$202000Mar .15Purchase300236900July .20Purchase250256250Sept .4Purchase290288120Dec.2Purchase130303900Total units available for sale1070$12627170Units in ending inventory270Units sold800(2) FIFODateUnitsUnit CostTotal CostDec .2130303900Cost of goods available for sale27170Sept.4140283920Less: Ending inventory7820Total430584240Cost of goods sold19350LIFODateUnitsUnit CostTotal CostJan .1100$202000Cost of goods available for sale27170Mar .15300236900Less: Ending inventory5910July .2025025500Total6505910Cost of goods sold21260
Average Cost$27,170 / 1070 =25.40Cost of goods available for sale27170UnitsUnit CostTotal CostLess: Ending inventoryCost of goods sold23100107025.402310065900

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