Question

Tamarisk Company sells two types of pumps. One is large and is for commercial use. The other is smaller and is used in residential swimming pools. The following inventory data is available for the month of March. Price per Unit Units Total 440 $ 300 $ 132,000 1,100 880 660 $ $ $ 450 475 500 $ 495,000 $ 418,000 $ 330,000 1,100 880 1,100 $ 540 $ 570 $ 594,000 $ 501,600 Residential Pumps Inventory at Feb. 28: Purchases: March 10 March 20 March 30 Sales: March 15 March 25 Inventory at March 31: Commercial Pumps Inventory at Feb. 28: Purchases: March 3 March 12 March 21 Sales: March 18 March 29 Inventory at March 31: 1,320 $ 800 $ 1,056,000 1,320 660 1,100 $ 900 $ 950 $1,000 $1,188,000 $ 627,000 $1,100,000 1,980 1,320 1,100 $ 1,080 $ 1,140 $ 2,138,400 $ 1,504,800

Answer 1

COMMERCIAL PUMPS Opening balance 1,320 800 10,56,000 Mar-03 Purchases 1,320 900 11,88,000 800 1,320 1,320 10,56,000 11,88,000 900 22,44,000 95 Mar-12 Purchases 660 950 6,27,000 1,320 1,320 660 800 900 950 10,56,000 11,88,000 6,27,000 28,71,000 Mar-18 Sales 1,980 1,080 H 21,38,400 660 900 950 5,94,000 6,27,000 660 12,21,000 Mar-21 Purchases 1,100 1,000 11,00,000 5,94,000 660 660 1,100 900 950 1,000 6,27,000 11,00,000 23,21,000 Mar-29 Sales 1,320 1,140 15,04,800 1,100 1,000 11,00,000

Particulars Total Residential Commercial pumps pumps 5,39,000 11,00,000 8,36,000 28,71,000 16,39,000 37,07,000 Cost of inventory Cost of goods sold (Opening stock + Purchases - Closing stock)