PROBLEM 1

1 Cost of goods out on consignment at another company’s store

Goods in transit purchased FOB shipping point
Cost of goods sold to another company - agreed to repurchase
Freight charges on goods purchased
Factory labor costs incurred on goods still unsold
Materials on hand not yet placed into production
Raw materials unprocessed
Factory supplies
Costs identified with units completed but not sold
Cost of goods in transit sold FOB destination
Total Inventory

PROBLEM 2
2 Warehouse Accounting dept Tabulating dept
Beginning 342,400 384,900 403,300
1
(11,700 -,11,200) -500
2 -23900
3
(1200 x .50) -600
4
(400 x 2) -800 -800
5
(2,200 x 2) 4,400
6
overage -7500 -7500 3 A
7 -900
8
(700 x 3) 2100
9
(600 x 2) -1200 -1200
10
(350 x 2) 700
11
(10,000 x 3) 30,000
total 374,300 374,300 374,300 D
 6b
7b
8a
9b
10 d
11 c
12 a
13 a
14 a
15 c
2,400,000
360,000
900,000
240,000
150,000
1,050,000
840,000
60,000
780,000
120,000
6,900,000 a
PROBLEM 2
2 Warehouse Accounting dept Tabulating dept
Beginning 342,400 384,900 403,300
1
(11,700 -,11,200) -500
2 -23900
3
(1200 x .50) -600
4
(400 x 2) -800 -800
5
(2,200 x 2) 4,400
6
overage -7500 -7500 3
7 -900
8
(700 x 3) 2100
9
(600 x 2) -1200 -1200
10
(350 x 2) 700
11
(10,000 x 3) 30,000
total 374,300 374,300 374,300 D
 Cash/AR 1800
Inventory 1800

Cash/AR 600
Inventory 600

A 2400
 1,750,000.00 175,000.00
1 2,000.00 2,000.00
2 4,000.00 (4,000.00)
3 (9,000.00) 9,000.00
4 8,000.00 8,000.00
5 (1,000.00)
6 (6,000.00) (6,000.00)
1,748,000.00 184,000.00

7 8,500.00
8 7,200.00
9 11,700.00
10 6,900.00
11 4,100.00
27,100.00 11,300.00

1,775,100.00 195,300.00

1,750,000.00 175,000.00
1 2,000.00
2 (4,000.00)
3 (9,000.00) 9,000.00
4 8,000.00
5 (1,000.00)
6 (6,000.00) (6,000.00)
1,734,000.00 184,000.00

7 8,500.00
 8 7,200.00
9 11,700.00
10 6,900.00
11 4,100.00
27,100.00 11,300.00

1,761,100.00 195,300.00

1,750,000.00 175,000.00
1 2,000.00 2,000.00
2 4,000.00 (4,000.00)
3 (9,000.00) 9,000.00
4 8,000.00 8,000.00
5 (1,000.00)
6 (6,000.00) (6,000.00)
1,748,000.00 184,000.00

7 8,500.00 (8,500.00)
8 (7,200.00) 7,200.00
9 11,700.00 (11,700.00)
10 6,900.00 (6,900.00)
11 (4,100.00) 4,100.00
15,800.00 (15,800.00)

1,763,800.00 168,200.00

1,750,000.00 175,000.00
1 2,000.00 2,000.00
2 4,000.00 (4,000.00)
3 (9,000.00) 9,000.00
4 8,000.00 8,000.00
5 (1,000.00)
6 (6,000.00) (6,000.00)
1,748,000.00 184,000.00
 7 (8,500.00)
8 (7,200.00)
9 (11,700.00)
10 (6,900.00)
11 (4,100.00)
(27,100.00) (11,300.00)

1,720,900.00 172,700.00