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 | 215 | $ 10.60 | $ 2,279.00 | 215 | $ 10.60 | $ 2,279.00 | |||
Jan-10 | Sales | 180 | $ 10.60 | $ 1,908.00 | 35 | $ 10.60 | $ 371.00 | |||
Mar-14 | Purchase | 320 | $ 15.60 | $ 4,992.00 | 35 | $ 10.60 | $ 371.00 | |||
320 | $ 15.60 | $ 4,992.00 | ||||||||
Mar-15 | Sales | 35 | $ 10.60 | $ 371.00 | ||||||
225 | $ 15.60 | $ 3,510.00 | 95 | $ 15.60 | $ 1,482.00 | |||||
Jul-30 | Purchase | 415 | $ 20.60 | $ 8,549.00 | 95 | $ 15.60 | $ 1,482.00 | |||
415 | $ 20.60 | $ 8,549.00 | ||||||||
Oct-05 | Sales | 95 | $ 15.60 | $ 1,482.00 | ||||||
305 | $ 20.60 | $ 6,283.00 | 110 | $ 20.60 | $ 2,266.00 | |||||
Jan-30 | Purchase | 115 | $ 25.60 | $ 2,944.00 | 110 | $ 20.60 | $ 2,266.00 | |||
115 | $ 25.60 | $ 2,944.00 | ||||||||
Total | 1065 | $ 18,764.00 | 840 | $ 13,554.00 | 225 | $ 5,210.00 |
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 | 215 | $ 10.60 | $ 2,279.00 | 215 | $ 10.60 | $ 2,279.00 | |||
Jan-10 | Sales | 180 | $ 10.60 | $ 1,908.00 | 35 | $ 10.60 | $ 371.00 | |||
Mar-14 | Purchase | 320 | $ 15.60 | $ 4,992.00 | 35 | $ 10.60 | $ 371.00 | |||
320 | $ 15.60 | $ 4,992.00 | ||||||||
Mar-15 | Sales | 260 | $ 15.60 | $ 4,056.00 | 35 | $ 10.60 | $ 371.00 | |||
60 | $ 15.60 | $ 936.00 | ||||||||
Jul-30 | Purchase | 415 | $ 20.60 | $ 8,549.00 | 35 | $ 10.60 | $ 371.00 | |||
60 | $ 15.60 | $ 936.00 | ||||||||
415 | $ 20.60 | $ 8,549.00 | ||||||||
Oct-05 | Sales | 400 | $ 20.60 | $ 8,240.00 | 35 | $ 10.60 | $ 371.00 | |||
60 | $ 15.60 | $ 936.00 | ||||||||
15 | $ 20.60 | $ 309.00 | ||||||||
Jan-30 | Purchase | 115 | $ 25.60 | $ 2,944.00 | 35 | $ 10.60 | $ 371.00 | |||
60 | $ 15.60 | $ 936.00 | ||||||||
15 | $ 20.60 | $ 309.00 | ||||||||
115 | $ 25.60 | $ 2,944.00 | ||||||||
Total | 1065 | $ 18,764.00 | 840 | $ 14,204.00 | 225 | $ 4,560.00 |
Required information The following information applies to the questions displayed below) Hemming Co. reported the following...
Required information [The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 260 units @ $12.40 = $ 3,224 Jan. 10 Sales 215 units @ $42.40 Mar. 14 Purchase 420 units @ $17.40 = 7,308 Mar. 15 Sales 380 units @ $42.40 July 30 Purchase 460 units @ $22.40 = 10,304 Oct. 5 Sales...
Hemming Co. reported the Tollowing current-year purchases and Sales Top Its Ohly product. Units Sold at Retail Units Acquired at Cost 215 units @ $10.60 = $2,279 180 units @ $40.60 320 units @ $15.60 = 4,992 Date Activities Jan. 1 Beginning Inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 260 units @ $40.60 415 units @ $20.60 = 8,549 400 units @ $40.60 @ $25.60 = 115...
Check Required information (The following information applies to the questions displayed below.) Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost 230 units @ $11.20 = $ 2,576 350 units @ $16.20 = 5,670 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 160 units @ $41.20 320 units @ $41.20 400 units...
Required information (The following information applies to the questions displayed below.) Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail 160 units @ $41.20 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals Units Acquired at Cost 230 units @ $11.20 = $ 2,576 350 units @ $16.20 = 5,670 430 units @ $21.20 - 9,116...
Required information [The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 255 units @ $12.20 = $ 3,111 Jan. 10 Sales 210 units @ $42.20 Mar. 14 Purchase 410 units @ $17.20 = 7,052 Mar. 15 Sales 350 units @ $42.20 July 30 Purchase 455 units @ $22.20 = 10,101 Oct....
Required information [The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 255 units @ $12.20 = $ 3,111 Jan. 10 Sales 210 units @ $42.20 Mar. 14 Purchase 410 units @ $17.20 = 7,052 Mar. 15 Sales 350 units @ $42.20 July 30 Purchase 455 units @ $22.20 = 10,101 Oct....
Date Required information [The following information applies to the questions displayed below.) Hemming Co. reported the following current-year purchases and sales for its only product. Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 230 units @ $11.20 - $ 2,576 Jan. 10 Sales 160 units e $41.20 Mar.14 Purchase 350 units $16.20 - 5,670 Mar.15 Sales 320 units @ $41.20 July 30 Purchase 430 units $21.20 - 9,116 Oct. 5 Sales 400 units @ $41.20...
Help needed Required information [The following information applies to the questions displayed below.) Hemming Co. reported the following current-year purchases and sales for its only product. Date Activities Units Acquired at Cost Units Sold at Retail Jan. 1 Beginning inventory 260 units @ $12.40 = $ 3, 224 Jan. 10 Sales 215 units @ $42.40 Mar. 14 Purchase 420 units @ $17.40 = 7, 308 Mar.15 Sales 380 units @ $42.40 July 30 Purchase 460 units @ $22.40 = 10,...
Required information [The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost 285 units @ $13. 40 = $ 3, 819 250 units @ $43. 40 470 units @ $18.40 = 8,648 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar. 14 Purchase Mar. 15 Sales July 30 Purchase Oct. 5 Sales Oct. 26 Purchase Totals 400 units @...
Required information [The following information applies to the questions displayed below.] Hemming Co. reported the following current-year purchases and sales for its only product. Units Sold at Retail Units Acquired at Cost. 250 units @ $12.00 = $ 3,000 200 units @ $42.00 400 units @ $17.00 = 6,800 Date Activities Jan. 1 Beginning inventory Jan. 10 Sales Mar.14 Purchase Mar.15 Sales July 30 Purchase Oct. 5 Sales Oct.26 Purchase Totals 360 units @ $42.00 450 units @ $22.00 =...