Specific identification method | ||||||||||
COST OF GOODS AVAILABLE FOR SALE | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
Date | Particulars | No. of Units | Cost Per unit | Total | No. of Units | Cost Per unit | Cost of Goods Sold | No. of Units | Cost Per unit | Ending invetory |
Jan, 01 | Beginning inventory | 190 | $ 7.00 | $1,330 | 175 | $ 7.00 | $1,225 | 15 | $ 7.00 | $105 |
Purchases: | ||||||||||
Jan, 20 | Purchases | 110 | $ 6.00 | $660 | 105 | $ 6.00 | $630 | 5 | $ 6.00 | $30 |
Jan, 30 | Purchases | 280 | $ 5.50 | $1,540 | 0 | $ - | $0 | 280 | $ 5.50 | $1,540 |
Total | 580 | $3,530 | 280 | $1,855 | 300 | $1,675 | ||||
Weighted Average Cost Method | ||||||||||
COST OF GOODS AVAILABLE FOR SALE | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
Date | Particulars | No. of Units | Cost Per unit | Total | No. of Units | Cost Per unit | Cost of Goods Sold | No. of Units | Cost Per unit | Ending invetory |
Jan, 01 | Beginning inventory | 190 | $ 7.00 | $1,330 | ||||||
Purchases: | ||||||||||
Jan, 20 | Purchases | 110 | $ 6.00 | $660 | ||||||
Jan, 30 | Purchases | 280 | $ 5.50 | $1,540 | ||||||
Total | 580 | $6.09 | $3,530 | 280 | $6.09 | $1,704 | 300 | $6.09 | $1,826 | |
FIFO METHDO | ||||||||||
COST OF GOODS AVAILABLE FOR SALE | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
Date | Particulars | No. of Units | Cost Per unit | Total | No. of Units | Cost Per unit | Cost of Goods Sold | No. of Units | Cost Per unit | Ending invetory |
Jan, 01 | Beginning inventory | 190 | $ 7.00 | $1,330 | 190 | $ 7.00 | $1,330 | |||
Purchases: | ||||||||||
Jan, 20 | Purchases | 110 | $ 6.00 | $660 | 90 | $ 6.00 | $540 | 20 | $ 6.00 | $120 |
Jan, 30 | Purchases | 280 | $ 5.50 | $1,540 | 280 | $ 5.50 | $1,540 | |||
Total | 580 | $3,530 | 280 | $1,870 | 300 | $1,660 | ||||
LIFO METHDO | ||||||||||
COST OF GOODS AVAILABLE FOR SALE | COST OF GOODS SOLD | ENDING INVENTORY | ||||||||
Date | Particulars | No. of Units | Cost Per unit | Total | No. of Units | Cost Per unit | Cost of Goods Sold | No. of Units | Cost Per unit | Ending invetory |
Jan, 01 | Beginning inventory | 190 | $ 7.00 | $1,330 | 190 | $ 7.00 | $1,330 | |||
Purchases: | ||||||||||
Jan, 20 | Purchases | 110 | $ 6.00 | $660 | 110 | $ 6.00 | $660 | |||
Jan, 30 | Purchases | 280 | $ 5.50 | $1,540 | 280 | $ 5.50 | $1,540 | |||
Total | 580 | $3,530 | 280 | $1,540 | 300 | $1,990 | ||||
Required Information Use the following information for the Exercises below. [The following information applies to...
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 Activities Units Acquired at Cost Retail Jan. 1 Beginning inventory 140 units @ $6.00 = $ 840 Jan. 10 Sales 100 units @ $15 Jan. 20 Purchase 60 units @ $5.00 = 300 Jan. 25 Sales se units @ $15 Jan. 30 Purchase 180...
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. Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 185 units @ $11.00 - $2,035 145 units @ $20.00 100 units @ $10.00 - 1,000 125 units @ $20.00...
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 155 units $8.00 - $1,240 Jan. 10 Sales 115 units $17.00 Jan. 20 Purchase 90 units $7.00 - 630 Jan. 25 Sales 95 units $17.00 Jan. 30 Purchase 210 unitse $6.50- 1,365 Totals 455 units $3,235 210 units Required: The Company...
Chapter 05 Homework A Saved Required information [The following information applies to the questions displayed below.) Part 1 of 2 Laker Company reported the following January purchases and sales data for its only product. Units sold at Retail points Units Acquired at Cost 200 units @ $12.50 = $2,500 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals 130 units @ $11.50 = 1,495 160 units @ $21.50 140 units...
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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 180 units @ $ 10.50 = $ 1,890 Jan. 10 Sales 140 units @ $ 19.50 Jan. 20 Purchase 110 units @ $ 9.50 = 1,045 Jan. 25 Sales 130 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 Beginning Jan. 1 inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales Jan. 30 Purchase Totals Units Acquired at Cost Units sold at Retail 220 units@ $14.50 = $ 3,190 170 units@ $23.50 170 units@ $13.50 = 2,295 200 units @ $23.50 370 units@ $13.00 = 4,810 760 units $10,295 370 units...
MUS UNUS Homework 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 1 Activities Betinine nentory (8 0430:30 Units Aquired at Costunits sold 215 units $14.00 $3,010 165 unitse 100 units $13.aa- 2.10 199 units 355 Its $12.00 28 Purchase $23.03 Required: The Company uses a periodic inventory system. For specific identification, ending inventory consists of 375 units, where 355 are from the...
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. Units Acquired at Cost Units sold at Retail 140 units$6.840 Activities Jan. 1 Beginning inventory Jan. 10 Sales Jan. 20 Purchase Jan. 25 Sales an. 30 Purchase 100 units 15 60 units$5.00300 80 units 15 180 units $4.50-81e 380 units Totals $1,950 180 units Required The Company uses a periodic inventory system. For specific identification,...
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. Date Activities Units Acquired at Cost Units sold at Retail Jan. 1 Beginning inventory 205 units @ $ 13.00 = $ 2,665 Jan. 10 Sales 165 units @ $ 22.00 Jan. 20 Purchase 140 units @ $ 12.00 = 1,680 Jan. 25 Sales 145 units...
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. 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 @ $...