Perpetual Inventory Worksheet - FIFO

PURCHASES
UNIT
DATE QTY. COST
1-Jan
2-Jan 10
180

TOTAL
COST
1800

5-Jan
12-Jan

3
3
8

190

6

200

510
540

7
2

180
190

1260
380

6
2

190
200

1140
400

1200

31-Jan

Totals

170
180

1520

18-Jan
24-Jan

COST OF M'DSE SOLD
UNIT
TOTAL
QTY.
COST
COST

$4,520

Cost of Goods Purchased
Cost of Goods Sold
Cost of Goods in Ending Inventory
Quantity of Goods in Inventory

INVENTORY BALANCE
UNIT
TOTAL
QTY.
COST
COST
3
170
510
3
170
510
10
180
1,800

2,310

7
7
8

180
180
190

1,260
1,260
1,520

1,260

6
6
6

190
190
200

1,140
1,140
1,200

1,140

4

200

800

$4,230
$4,520
$4,230
$800
4

510

Proof:
Beginning Inventory
+ purchases
= M'dse. Available
- Ending Inventory
= Cost of M'dse. Sold

Perpetual Inventory Worksheet - LIFO

2,780

2,340
800

800

$510
4,520
5,030
800
4,230

PURCHASES
UNIT
DATE QTY. COST
1-Jan
2-Jan 10
180

TOTAL
COST
1800

5-Jan
12-Jan

6
8

190

6

200

1080

8
1

190
180

1520
180

6
2

200
180

1200
360

1200

31-Jan

Totals

180

1520

18-Jan
24-Jan

COST OF M'DSE SOLD
UNIT
TOTAL
QTY.
COST
COST

$4,520

Cost of Goods Purchased
Cost of Goods Sold
Cost of Goods in Ending Inventory
Quantity of Goods in Inventory

INVENTORY BALANCE
UNIT
TOTAL
QTY.
COST
COST
3
170
510
3
170
510
10
180
1,800
3
170
510
4
180
720
3
170
510
4
180
720
8
190
1,520
3
170
510
3
180
540
3
170
510
3
180
540
6
200
1,200
3
170
510
1
180
180

$4,340
$4,520
$4,340
$690
4

Proof:
Beginning Inventory
+ purchases
= M'dse. Available
- Ending Inventory
= Cost of M'dse. Sold

2,310
1,230

2,750
1,050

2,250
690

690

$510
4,520
5,030
690
4,340

Perpetual Inventory Worksheet - AVG. COST
A new average cost per unit must be computed after each new purchase

510

PURCHASES
UNIT
DATE QTY. COST
1-Jan
2-Jan 10
180

TOTAL
COST

COST OF M'DSE SOLD
UNIT
TOTAL
QTY.
COST
COST

1800

INVENTORY BALANCE
avg unit
TOTAL
QTY.
COST
COST
3
170.00
510.00
13
177.69
2,310.00

510.00
2,310.00

5-Jan

6

177.69

1,066.15

7

177.69

1,243.85
1,243.85

12-Jan

8

190

1520

15

184.26

2,763.85

6

184.26

1,105.54

2,763.85
18-Jan

9

184.26

1,658.31

1,105.54
24-Jan

6

200

1200

12

192.13

2,305.54
2,305.54

31-Jan

8

192.13

1,537.03

4

192.13

768.51
768.51

Totals

$4,520

Cost of Goods Purchased
Cost of Goods Sold
Cost of Goods in Ending Inventory
Quantity of Goods in Inventory

$4,261.49
$4,520.00
$4,261.49
$768.51
$4.00

Proof:
Beginning Inventory
+ purchases
= M'dse. Available
- Ending Inventory
= Cost of M'dse. Sold

768.51

$510.00
$4,520.00
$5,030.00
$768.51
$4,261.49