Homework Answers
Question 31:
| Opening | (Sale)/purchase | closing | |||||||
| Date | Qty | Rate | Cost | Qty | Rate | Cost | Qty | Rate | Cost |
| 1-Sep | 24 | 10 | 240 | 24 | 10 | 240 | |||
| 5-Sep | -17 | 10 | -170 | 7 | 10 | 70 | |||
| 17-Sep | 10 | 15 | 150 | 17 | 220 | ||||
| 30-Sep | -7 | 10 | -70 | ||||||
| -1 | 15 | -15 | 9 | 15 | 135 |
a. COGS for sep 30 sale = $ 85 (7 units @ $10 per unit & 1 unit @ $15 per unit)
b. Inventory as on Sep 30 = 9 units @ 15 = $ 135
Question 32:
| Opening | (Sale)/purchase | closing | |||||||
| Date | Qty | Rate | Cost | Qty | Rate | Cost | Qty | Rate | Cost |
| 1-Sep | 22 | 11 | 242 | 22 | 11 | 242 | |||
| 5-Sep | -12 | 11 | -132 | 10 | 11 | 110 | |||
| 17-Sep | 23 | 12 | 276 | 33 | 386 | ||||
| 30-Sep | -15 | 12 | -180 | 8 | 12 | 96 | |||
| 10 | 11 | 110 |
a. COGS for sep 30 sale = $ 180 (15 units @ $ 12 each)
b. Inventory as on Sep 30 = $ 206(8 units @ $ 12 each & 10 units @ 11 each)
Question 35:
| Opening | (Sale)/purchase | closing | |||||||
| Date | Qty | Rate | Cost | Qty | Rate | Cost | Qty | Rate | Cost |
| 1-Sep | 33 | 19 | 627 | 33 | 19 | 627 | |||
| 5-Sep | -19 | 19 | -361 | 14 | 19 | 266 | |||
| 17-Sep | 35 | 21 | 735 | 49 | 1001 | ||||
| 30-Sep | -35 | 21 | -735 | ||||||
| -1 | 19 | -19 | 13 | 19 | 247 |
a. COGS for sep 30 sale = $ 754(35 units @ $ 21 each & 1 unit @ $ 19 each)
b. Inventory as on Sep 30 = $ 247(13 units @ $ 19 each)
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