lastnameExerCh.6-Saved to my Mac Q Search Sheet Home InsertPage Layout Formulas

Question

lastnameExerCh.6-Saved to my Mac Q Search Sheet Home InsertPage Layout Formulas Data Review View Share ^ AutoSum Calibri(Body) 11 Wrap Text General Copy Fill Merge & Center, $, % | +0|400| Conditional Format Cell Insert Delete Format Sort & Filter Format Formatting as Table Styles Clear Exercise 6 This Company uses the perpetual inventory method nits oS ota 1-Jun 10x $ 0.80=$ 8.00 3-Jun 15 x$ 0.90=$ 13.50 8-Jun 18 x$ 2.40=$ 43.20 7 |Purchase 15-Jun 20 x$ 1.00=$ 20.00 8 Purchase 25-Jun 31 x$ 1.20=$ 37.20 30-Jun 32x 2.40 76.80 4 Beg. Inv Purchase Sale Sale 35 37 39 40 Calculate COGS & Ending Inventory assuming the perpetual method FIFO Cost of Goods Sold Inventory Balance Date Units Cost/Unit Total UnitsCost/Unit Total Beg. Inv Purchase 1-Jun 3-Jun Total Sale 8-Jun 45 Total 46 47 48 Purchase 15-Jun 25-Jun Purchase 49 50 51 S2 53 Total Sale 30-Jun Total Cost of Goods Sold 47.50 IEnding Inventor 31.20 57 LIFO 8-9 x-cdt Ready 171%

Explanation / Answer

Answer:-1)

2)-

FIFO Method Goods purchased Cost of goods sold Inventory balance Date # of units Cost per unit # of units sold Cost per unit Cost of goods sold # of units Cost per unit Inventory balance Jun-01 10 0.8 8 Jun-03 15 0.9 10 0.8 8 15 0.9 13.5 Jun-08 10 0.8 8 7 0.9 6.3 8 0.9 7.2 Jun-15 20 1 7 0.9 6.3 20 1.0 20 Jun-25 31 1.2 7 0.90 6.3 20 1.00 20 31 1.20 37.2 Jun-30 7 0.9 6.3 26 1 31.2 20 1 20 5 1.2 6 Totals 50 47.5

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