FIFO - Perpetual

Jan-01 beg inv 1,000 11.00

Jan-10 Purchase 8,000 12.00
Jan-15 Issued 8,500
Jan-25 Purchase 8,500 11.50
Jan-27 Issued 8,000

Received (in) Issued (out) Balance

Date Particular Units Price Sub-Total Units Price Sub-Total Units
Jan-01 beg inventory 1,000
Jan-10 purchase 8,000
9,000
Jan-15 issued 1,000 11.00 11,000
7,500 12.00 90000
8,500 101,000 500
Jan-25 purchase 8,500 11.50 97750 500
8,500
9,000
Jan-27 issued 500 12.00 6,000
7,500 11.50 86250
8,000 92,250 1,000

Under FIFO (perpetual inventory system)

The cost of materials used in the month of January: (101,000+92,250) 193,250
The ending inventory in units is: 1,000
The ending inventory in pesos is: 11,500

Jan-10 Materials 96000

Cash or Non-cash asset or A/P people 96000
to record materials purchased
8000 units at 12

Jan-15 Work in process 101,000

Materials 101,000
to record materials issued
7,500 units at 12

Jan-25 Materials 97750

Cash or Non-cash assets or A/P 97750
to record materials purchased

Jan-26 Work in process 92,250

Materials 92,250
to record materials issued
Balance
Price Sub-Total
11.00 11000
12.00 96000
107000

12.00 6,000
12.00 6000
11.50 97750
103750

11.50 11,500
Moving average method

Received (in) Issued (out)

Date Particulars Units Price Subtotal Units Price
Jan 1 Beginning

Jan 10 Purchased 8,000 12.00 96000

Jan 15 Issued 8,500 11.89

Jan 25 Purchased 8,500 11.50 97750

Jan 27 Issued 8,000 11.52

The cost of materials used in the month of October:

(101,065+92,160) ₱ 193,225.00
The ending inventory in units: 1,000
The ending inventory in pesos: ₱ 11,525.00

Jan-10 Materials 9600

Cash or Non-cash asset or A/P 9600
to record materials purchased
8000 units at 12

Jan-15 Work in process 101,000

Materials 101,000
to record materials issued
7,500 units at 12

Jan-25 Materials 97750

Cash or Non-cash assets or A/P 97750
to record materials purchased

Jan-26 Work in process 92,250

Materials 92,250
to record materials issued
ued (out) Balance
Subtotal Units Price Total
1,000 11.00 11000

9,000 11.89 107000

101065 500 11.87 5935

9,000 11.52 103685

92160 1,000 11.53 11525

FIFO - Periodic

Jan-01 beg inv 1,000 11.00

Jan-10 Purchase 8,000 12.00
Jan-15 Issued 8,500
Jan-25 Purchase 8,500 11.50
Jan-27 Issued 8,000

Received (in) Issued (out) Balance

Date Particular Units Price Sub-Total Units Price Sub-Total Units
Jan-01 beg inventory 1,000 11.00 11000
Jan-10 purchase 8,000 12.00 96000
Jan-15 issued 8,500
Jan-25 purchase 8,500 11.50 97750
Jan-27 issued 8,000
Total 17,500 204750 16,500 1,000

Under FIFO (periodic inventory system)

The cost of materials used in the month of October: (204,750-11,500) 193250
The ending inventory in units is: 1,000
The ending inventory in pesos is: 11,500
Balance
Price Sub-Total

11.50 11500
FIFO - Periodic

Jan-01 beg inv 1,000 11.00

Jan-10 Purchase 8,000 12.00
Jan-15 Issued 8,500
Jan-25 Purchase 8,500 11.50
Jan-27 Issued 8,000

Received (in) Issued (out) Balance

Date Particular Units Price Sub-Total Units Price Sub-Total Units
Jan-01 beg inventory 1,000 11.00 11000
Jan-10 purchase 8,000 12.00 96000
Jan-15 issued 8,500
Jan-25 purchase 8,500 11.50 97750
Jan-27 issued 8,000
Total 17,500 11.70 204750 16,500 11.70 193,050 1,000

Under Weighted Average (periodic inventory system)

The cost of materials used in the month of October: (8,500u+8,000u)x11.70
The ending inventory in units is:
The ending inventory in pesos is:
Balance
Price Sub-Total

11.70 11,700

193,050
1,000
11,700