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...
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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.
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(Round answers to 3 decimal places, e.g.
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.....................
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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
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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...
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.....................
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