Cost of good available for sale |
|||
Date |
Unit |
Coat |
Total |
1-may |
1700 |
25 |
42500 |
9-may |
2200 |
26 |
57200 |
17-may |
3700 |
28 |
103600 |
26-may |
1200 |
29 |
34800 |
Total |
8800 |
238100 |
FIFO METHOD |
|||
Ending inventory |
Layer based on FIFO |
Cost per unit |
Ending inventory FIFO cost |
2200 |
1200 |
29 |
34800 |
1000 |
28 |
28000 |
|
Total |
62800 |
LIFO METHOD |
|||
Ending inventory |
Layer based on LIFO |
Cost per unit |
Ending inventory LIFO cost |
2200 |
1700 |
25 |
42500 |
500 |
26 |
13000 |
|
Total |
55500 |
Average cost |
|||
Ending inventory |
Cost per unit |
Ending inventory average cost |
|
2200 |
27.06 |
59532 |
|
Average cost |
Total cost/total unit |
238100/8800 |
27.06 |
FIFO |
LIFO |
Average cost |
|
Inventory cost |
62800 |
55500 |
59532 |
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