5-3
FIFO | Cost of goods available for sale | Cost of Goods Sold | Ending Balance | |||||||
Date | Activity | Units | Unit Price | Amount | Units | Unit Price | Amount | Units | Unit Price | Amount |
Jan-01 | Beginning Inventory | 140 | $ 6.00 | $ 840.00 | 140 | $ 6.00 | $ 840.00 | |||
Jan-10 | Sales | 100 | $ 6.00 | $ 600.00 | 40 | $ 6.00 | $ 240.00 | |||
Jan-20 | Purchase | 60 | $ 5.00 | $ 300.00 | 40 | $ 6.00 | $ 240.00 | |||
60 | $ 5.00 | $ 300.00 | ||||||||
Jan-25 | Sales | 40 | $ 6.00 | $ 240.00 | ||||||
40 | $ 5.00 | $ 200.00 | 20 | $ 5.00 | $ 100.00 | |||||
Jan-30 | Purchase | 180 | $ 4.50 | $ 810.00 | 20 | $ 5.00 | $ 100.00 | |||
180 | $ 4.50 | $ 810.00 | ||||||||
Total | 380 | $ 1,950.00 | 180 | $ 1,040.00 | 200 | $ 910.00 | ||||
LIFO | Cost of goods available for sale | Cost of Goods Sold | Ending Balance | |||||||
Date | Activity | Units | Unit Price | Amount | Units | Unit Price | Amount | Units | Unit Price | Amount |
Jan-01 | Beginning Inventory | 140 | $ 6.00 | $ 840.00 | 140 | $ 6.00 | $ 840.00 | |||
Jan-10 | Sales | 100 | $ 6.00 | $ 600.00 | 40 | $ 6.00 | $ 240.00 | |||
Jan-20 | Purchase | 60 | $ 5.00 | $ 300.00 | 40 | $ 6.00 | $ 240.00 | |||
60 | $ 5.00 | $ 300.00 | ||||||||
Jan-25 | Sales | 60 | $ 5.00 | $ 300.00 | 20 | $ 6.00 | $ 120.00 | |||
20 | $ 6.00 | $ 120.00 | ||||||||
Jan-30 | Purchase | 180 | $ 4.50 | $ 810.00 | 20 | $ 6.00 | $ 120.00 | |||
180 | $ 4.50 | $ 810.00 | ||||||||
Total | 380 | $ 1,950.00 | 180 | $ 1,020.00 | 200 | $ 930.00 | ||||
W.Avg | Cost of goods available for sale | Cost of Goods Sold | Ending Balance | |||||||
Date | Activity | Units | Unit Price | Amount | Units | Unit Price | Amount | Units | Unit Price | Amount |
Jan-01 | Beginning Inventory | 140 | $ 6.00 | $ 840.00 | 140 | $ 6.00 | $ 840.00 | |||
Jan-10 | Sales | 100 | $ 6.00 | $ 600.00 | 40 | $ 6.00 | $ 240.00 | |||
Jan-20 | Purchase | 60 | $ 5.00 | $ 300.00 | 40 | $ 6.00 | $ 240.00 | |||
60 | $ 5.00 | $ 300.00 | ||||||||
100 | $ 5.40 | $ 540.00 | ||||||||
Jan-25 | Sales | 80 | $ 5.40 | $ 432.00 | 20 | $ 5.40 | $ 108.00 | |||
Jan-30 | Purchase | 180 | $ 4.50 | $ 810.00 | 20 | $ 5.40 | $ 108.00 | |||
180 | $ 4.50 | $ 810.00 | ||||||||
200 | $ 4.59 | $ 918.00 | ||||||||
Total | 380 | $ 1,950.00 | 180 | $ 1,032.00 | 200 | $ 918.00 | ||||
Sp. ID | Cost of goods available for sale | Cost of Goods Sold | Ending Balance | |||||||
Date | Activity | Units | Unit Price | Amount | Units | Unit Price | Amount | Units | Unit Price | Amount |
Jan-01 | Beginning Inventory | 140 | $ 6.00 | $ 840.00 | 140 | $ 6.00 | $ 840.00 | |||
Jan-10 | Sales | 100 | $ 6.00 | $ 600.00 | 40 | $ 6.00 | $ 240.00 | |||
Jan-20 | Purchase | 60 | $ 5.00 | $ 300.00 | 40 | $ 6.00 | $ 240.00 | |||
60 | $ 5.00 | $ 300.00 | ||||||||
Jan-25 | Sales | 25 | $ 6.00 | $ 150.00 | 15 | $ 6.00 | $ 90.00 | |||
55 | $ 5.00 | $ 275.00 | 5 | $ 5.00 | $ 25.00 | |||||
Jan-30 | Purchase | 180 | $ 4.50 | $ 810.00 | 15 | $ 6.00 | $ 90.00 | |||
5 | $ 5.00 | $ 25.00 | ||||||||
180 | $ 4.50 | $ 810.00 | ||||||||
Total | 380 | $ 1,950.00 | 180 | $ 1,025.00 | 200 | $ 925.00 |
5-5
Weighted Average
Average cost per unit = $1950/380 = $5.13
Cost of Goods Sold = 180 x $5.13 = $923 or $924
Ending Inventory = $1950-923 = $1027 or $1026
exercise 5-3 and 5-5. both go together for excel formating file questions E- 5-3 and E...
o bous up or sale, they cleaned and WOULUI 3980. Determine the cost of inventory. C2 Company reported the following January purchases and sales data for its only product Date Exercise 6-3 Perpetual: Inventory costing methods Units Acquired at Cost Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Activities Beginning inventory ............ Sales. Purchase Sales..... Purchase Totals.. 60 units @ $5.00 = 300...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Exercise 6-3 Perpetual: Inventory costing methods P1 Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @ $15 Jan. 1 Jan. 10 Jan. 20 Jan. 25 Jan. 30 Beginning inventory ... Sales... Purchase .. Sales..... Purchase .. Totals 60 units @ $5.00 = 300 80 units @ $15 180 units @ $4.50 = 810 380 units...
I only need help with 6-4. The income statements and questions 1, 2, and 3. I included the picture of 6-3 because that info is needed to do 6-4. Thanks! w them at a cost of $980. Determine the cost of inventory. refurbished them at a Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units Sold at Retail 140 units @ $6.00 = $ 840 100 units @...
Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 225 units @ $ 15.00 = $ 3,375 Jan. 10 Sales 175 units @ $ 24.00 Jan. 20 Purchase 180 units @ $ 14.00 = 2,520 Jan. 25 Sales 210 units @ $ 24.00 Jan. 30 Purchase 350 units @ $...
Required information [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 225 units @ $ 15.00 = $ 3,375 Jan. 10 Sales 175 units @ $ 24.00 Jan. 20 Purchase 180 units @ $ 14.00 = 2,520 Jan. 25 Sales 210 units @ $ 24.00 Jan. 30 Purchase 350 units @ $...
Laker Company reported the following January purchases and sales data for its only product. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 240 units @ $ 16.50 = $ 3,960 Jan. 10 Sales 190 units @ $ 25.50 Jan. 20 Purchase 170 units @ $ 15.50 = 2,635 Jan. 25 Sales 190 units @ $ 25.50 Jan. 30 Purchase 380 units @ $ 15.00 = 5,700 Totals 790 units $ 12,295 380 units The...
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail Units Acquired at Cost 215 units @ $14.00 = $3,010 165 units @ $23.00 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Tan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 160 units @ $13.00 = 2,080 190 units @ $23.00...
point, and the tos of $300. Prior chase were FOB shipping was $2,400. Walberg Ass sale, they cleaned and refurbished them at a cost of $980. Determine the cost of the i alberg Associates insured the shipment at a cost nventory from the estate. Laker Company reported the following January purchases and sales data for its only product Units Sold at Retail Activities Units Acquired at Cost Date ...140 units@ $6.00 $840 Jan. 1 Beginning inventory. . .. Jan. 10...
Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Laker Company reported the following January purchases and sales data for its only product. Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 140 units @ $6.00 - $340 100 units@ $15 60 units @ $5.00 = 80 units @ $15 180 units@ $4.50 - Totals 180 units Date 300 Jan. 10 Sales Jan. 20 Purchase Jan....
Required information The following information applies to the questions displayed below) of 2 Laker Company reported the following January purchases and sales data for its only product. Units sold at Date Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units @ $6.00 - $ 840 Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 6 units @ $5.00 300 Jan. 25 Sales 80 units @ $15 Jan. 30 Purchase 180 units @ $4.58 = 810 Totals...