The company Electronic Goods Inc. had beginning inventory of 100 units with a price of $30 per unit for a total of $3,000 in beginning inventory. During the month of April, the company sold 520 units and had ending inventory of 480 units. Using different costing methods, the cost of goods sold was $15,600 under average costing, $15,180 under FIFO costing, and $18,480 under LIFO costing. The company made various purchases of mobile phone batteries throughout April at different unit prices.
The company Electronic Goods Inc. had beginning inventory of 100 units with a price of $30 per unit for a total of $3,000 in beginning inventory. During the month of April, the company sold 520 units and had ending inventory of 480 units. Using different costing methods, the cost of goods sold was $15,600 under average costing, $15,180 under FIFO costing, and $18,480 under LIFO costing. The company made various purchases of mobile phone batteries throughout April at different unit prices.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as XLS, PDF, TXT or read online from Scribd
The company Electronic Goods Inc. had beginning inventory of 100 units with a price of $30 per unit for a total of $3,000 in beginning inventory. During the month of April, the company sold 520 units and had ending inventory of 480 units. Using different costing methods, the cost of goods sold was $15,600 under average costing, $15,180 under FIFO costing, and $18,480 under LIFO costing. The company made various purchases of mobile phone batteries throughout April at different unit prices.
Copyright:
Attribution Non-Commercial (BY-NC)
Available Formats
Download as XLS, PDF, TXT or read online from Scribd
Month Period : April-09 Beginning Inventory : 100 unit COGS (USD) Total Per Unit Beginning Inventory Price (USD) : 30 Average 15,600 32.500 Sold Unit : 520 unit FIFO 15,180 31.625 Ending Inventory : 480 unit LIFO 18,480 38.500
Date PO # Item Name Price (USD) Unit Total Price
Beginning Inventory as of 1 Apr 09 30 100 3,000 4-Apr 101 Mobile Phone Battery 29 500 14,500 12-Apr 102 Mobile Phone Battery 35 250 8,750 19-Apr 103 Mobile Phone Battery 40 100 4,000 25-Apr 104 Mobile Phone Battery 45 50 2,250
VISIT EXCELTEMPLATE.NET FOR MORE TEMPLATES AND UPDATES