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  • 4.2 Inventory Cost Flow Methods - Unsolved

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    Mi Tv
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    The company sold two PCs on December 10th and two more on December 22nd. It had previously purchased 3 PCs on December 1st for $350 each, 4 PCs on December 8th for $400 each, and 5 PCs on December 21st for $500 each. The document calculates the cost of goods sold and ending inventory for these transactions under four inventory costing methods: specific identification, FIFO, weighted average, and LIFO.

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    4.2 Inventory Cost Flow Methods_unsolved.xlsx.xlsx

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    The company sold two PCs on December 10th and two more on December 22nd. It had previously purchased 3 PCs on December 1st for $350 each, 4 PCs on December 8th for $400 each, and 5 PCs on December 21st for $500 each. The document calculates the cost of goods sold and ending inventory for these transactions under four inventory costing methods: specific identification, FIFO, weighted average, and LIFO.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    17 views4 pages

    4.2 Inventory Cost Flow Methods - Unsolved

    Uploaded by

    Mi Tv
    The company sold two PCs on December 10th and two more on December 22nd. It had previously purchased 3 PCs on December 1st for $350 each, 4 PCs on December 8th for $400 each, and 5 PCs on December 21st for $500 each. The document calculates the cost of goods sold and ending inventory for these transactions under four inventory costing methods: specific identification, FIFO, weighted average, and LIFO.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 4

    Task 1

    Calculate
    The Cogssold
    company andtwo
    Inventory
    PCs onunder theDecember
    10th of four cost flow methods.two on the 22nd of December. The first two PCs it sold were purchased on t
    and another

    Product Units purchased Purchase date Purchase Price ($)


    PC 3 1-Dec 350
    PC 4 8-Dec 400
    PC 5 21-Dec 500

    Date Units sold


    10-Dec 2
    22-Dec 2

    Accounting method Cogs Inventory


    Specific Identification
    FIFO
    Weighted average cost
    LIFO
    PCs it sold were purchased on the 1st of December, while the second two on the 8th of December.
    Task 2
    Calculate
    The Cogssold
    company andtwo
    Inventory
    PCs onunder theDecember
    10th of four cost flow methods.two on the 22nd of December. The first two PCs it sold were purchased on t
    and another

    Product Units purchased Purchase date Purchase Price ($)


    PC 3 1-Dec 350
    PC 4 8-Dec 400
    PC 5 21-Dec 600

    Date Units sold


    10-Dec 2
    22-Dec 2

    Accounting method Cogs Inventory


    Specific Identification
    FIFO
    Weighted average cost
    LIFO
    PCs it sold were purchased on the 1st of December, while the second two on the 8th of December.

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