Homework Answers
- Requirement
|
FIFO |
|||
|
Date |
Purchases |
Cost of Goods Sold |
Balance |
|
May-07 |
$765 |
$765 |
|
|
Jun-01 |
$396 |
$369 |
|
|
Jul-28 |
$765 |
$1,134 |
|
|
Aug-27 |
$774 |
$360 |
|
|
LIFO |
|||
|
Date |
Purchases |
Cost of Goods Sold |
Balance |
|
May-07 |
$765 |
$765 |
|
|
Jun-01 |
$396 |
$369 |
|
|
Jul-28 |
$765 |
$1,134 |
|
|
Aug-27 |
$918 |
$216 |
|
|
Moving Average |
|||
|
Date |
Purchases |
Cost of Goods Sold |
Balance |
|
May-07 |
$765 |
$765 |
|
|
Jun-01 |
$396 |
$369 |
|
|
Jul-28 |
$765 |
$1,134 |
|
|
Aug-27 |
$838 |
$296 |
|
--Calculation
|
FIFO |
|||
|
Date |
Purchases |
Cost of Goods Sold |
Balance |
|
39203 |
=85*9 |
=85*9 |
|
|
37043 |
=44*9 |
=+(85-44)*9 |
|
|
46935 |
=51*15 |
=((85-44)*9)+(51*15) |
|
|
46600 |
=((85-44)*9)+(27*15) |
=(51-27)*15 |
|
|
LIFO |
|||
|
Date |
Purchases |
Cost of Goods Sold |
Balance |
|
39203 |
=85*9 |
=85*9 |
|
|
37043 |
=44*9 |
=+(85-44)*9 |
|
|
46935 |
=51*15 |
=((85-44)*9)+(51*15) |
|
|
46600 |
=+(51*15)+(17*9) |
=((85-44-17)*9) |
|
|
Moving Average |
|||
|
Date |
Purchases |
Cost of Goods Sold |
Balance |
|
39203 |
=85*9 |
=85*9 |
|
|
37043 |
=44*9 |
=+(85-44)*9 |
|
|
46935 |
=51*15 |
=((85-44)*9)+(51*15) |
|
|
46600 |
=+(68*12.33) |
=+(85+51-44-68)*12.33 |
|
Add Answer to:
Sunland Company uses a perpetual inventory system. Data for product E2-D2 include the following purchases. Date...
Brief Exercise 6-10 Marigold Corp. uses a perpetual inventory system. Data for product E2-D2 include the...
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Sandhill Co. uses a perpetual inventory system. Data for
product E2-D2 includes the following purchases.
Date
Number of Units
Unit Price
May 7
48
$14
July 28
36
19
On June 1, Sandhill sold 24 units, and on August 27, 36 more units.
Calculate the average cost of the goods sold in the sale.
(Round answers to 3 decimal places, e.g.
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$enter a dollar amount
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Compute the cost of...
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Bramble Department Store uses a perpetual inventory system. Data for product E2-D2 include the following purchases....
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Brief Exercise 6A-4 The following is a record of Windsor Company's transactions for the month of...
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.....................
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Kaleta Company uses the perpetual inventory system and reports the following for the month of June....
Kaleta Company uses the perpetual inventory system and reports
the following for the month of June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
200
$5
$1,000
12
Purchase
400
6
2,400
23
Purchase
300
7
2,100
30
Inventory
100
Assume a sale of 440 units occurred on June 15 for a selling price
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Calculate the cost of the ending inventory and the cost of...
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Sandhill Co. uses a perpetual inventory system. Data for
product E2-D2 includes the following purchases.
Date
Number of Units
Unit Price
May 7
48
$14
July 28
36
19
On June 1, Sandhill sold 24 units, and on August 27, 36 more units.
Calculate the average cost of the goods sold in the sale.
(Round answers to 3 decimal places, e.g.
5.125.)
June 1 sale:
$enter a dollar amount
Aug. 27 sale:
$enter a dollar amount
Compute the cost of...
Sandhill Co. uses a perpetual inventory system. Data for product E2-D2 includes the following purchases. Date Number of Units Unit Price May 7 48 $14 July 28 36 19 On June 1, Sandhill sold 24 units, and on August 27, 36 more units. X Your answer is incorrect. Calculate the average cost of the goods sold in the sale. (Round answers to 3 decimal places, e.g. 5.125.) June 1 sale: $ 336 Aug. 27 sale: $ 23.720 Compute the cost...
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.....................
LIFO Perpetual Inventory The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows: Number Total of Units Date Transaction Per Unit 375 24,750 Apr. 3 Inventory 66 Purchase 8 132 450 59,400 11 Sale 88 1,250 110,000 30 Sale 55 1,250 68,750 Purchase 55,000 May 8 110 500 Sale 10 66 1,250 82,500 Sale 19 33 1,250 41,250 550 Purchase 28 110 60,500 Sale June 5 66 1,315 86,790 Sale...
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the following for the month of June.
Date
Explanation
Units
Unit Cost
Total Cost
June 1
Inventory
200
$5
$1,000
12
Purchase
400
6
2,400
23
Purchase
300
7
2,100
30
Inventory
100
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of $8 and a sale of 360 units on June 27 for $9.
Calculate the cost of the ending inventory and the cost of...
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