Scribd Logo
Upload

Welcome to Scribd!

  • Giselle Company

    Uploaded by

    Kwan21
    24 views2 pages
    Giselle Company had the following transactions for Material #3435134790635 in December: 1) They began with a balance of 35134790635,79000 units priced at P3513479063535134790635.00 per unit. 2) They issued and received various quantities of the material throughout the month at different unit prices. 3) By the end of the month they had a remaining balance of 3400 units priced at P7906,07900 after accounting for all receipts and issues.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Giselle Company had the following transactions for Material #3435134790635 in December: 1) They began with a balance of 35134790635,79000 units priced at P3513479063535134790635.00 per unit. 2) They issued and received various quantities of the material throughout the month at different unit prices. 3) By the end of the month they had a remaining balance of 3400 units priced at P7906,07900 after accounting for all receipts and issues.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    24 views2 pages

    Giselle Company

    Uploaded by

    Kwan21
    Giselle Company had the following transactions for Material #3435134790635 in December: 1) They began with a balance of 35134790635,79000 units priced at P3513479063535134790635.00 per unit. 2) They issued and received various quantities of the material throughout the month at different unit prices. 3) By the end of the month they had a remaining balance of 3400 units priced at P7906,07900 after accounting for all receipts and issues.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    GISELLE COMPANY

    PRACTICE PROBLEM

    GISELLE COMPANY that uses a perpetual inventory system had the following transactions for
    Material #3435134790635 during December:

    December 35134790635 Beginning balance: 35134790635,79000 units @


    P3513479063535134790635.00 per unit

    34 Issued 35134790635,3513479063500 units

    790635 Received 35134790635,000 units @ P3513479063534.340 per unit

    790 Issued 35134790635,000 units

    3513479063534 Received 3400 units @ P3513479063534.00 per unit

    351347906357906 Issued 79000 units

    351347906350 Received 3400 units @ P3513479063534.35134790635790635 per


    unit

    REQUIRED:
    SOLUTION PRACTICE PROBLEM

    B. LIFO Costing
    Date Receipts Issues Balance
    Quantity Unit Amount Quantity Unit Amount Quantity Unit Amount
    Cost Cost Cost
    Decem Balance 3513479 P351 P3434,7
    ber 0635,790 3479 9063500
    351347 00 0635
    90635 3513
    4790
    635
    34 3513479 P3513 P35134 3513479 3513 3513479
    0635,35 47906 7906353 0635,790 4790 063590,
    1347906 35351 4,3400 63500 6353 3513479
    3500 34790 5134 063500
    635 7906
    35
    790635 3513479 P3513 P35134 3513479 3513 3513479
    0635,00 47906 7906353 0635,790 4790 063590,
    0 3534.3 4,3400 63500 6353 3513479
    40 5134 063500
    7906
    35
    3513479 3513 3513479
    0635,000 4790 063534,
    6353 3400
    4.340
    790 3513479 35134 3513479 3513479 3513 3513479
    0635,00 79063 063534, 0635,790 4790 063590,
    0 534.3 3400 63500 6353 3513479
    40 5134 063500
    7906
    35
    351347 3400 35134 34,7906 3513479 3513 3513479
    906353 79063 3500 0635,790 4790 063590,
    4 534 63500 6353 3513479
    5134 063500
    7906
    35
    3400 3513 34,7906
    4790 3500
    6353
    4
    351347 3400 35134 34,7906 3513479 3513 3513479
    906357 79063 3500 0635,351 4790 063534,
    906 534 3479063 6353 3400
    500 5134
    7906
    35
    3400 35134 34,7900
    79063 0
    53513
    47906
    35
    351347 3400 35134 7906,07 3513479 3513 3513479
    906350 79063 900 0635,351 4790 063534,
    534.35 3479063 6353 3400
    13479 500 5134
    06357 7906
    90635 35
    3400 3513 7906,07
    4790 900
    6353
    4.351
    3479
    0635
    7906
    35

    You might also like