test 1

1 D 6 D
2 A 7 A
3 B 8 B
4 C 9 D
5 C 10 A

test 2
a.) Periodic System, FIFO Cost Method b.) Perpetual System, FIFO Cost Method

Cost Available Goods For Sale Date Transaction Unit Unit Cost Total Cost
Date Transaction Unit Unit Cost Total Cost 1-Jan Inventory, Beg. 1000 12.00 12,000.00
1-Jan Inventory, Beg 1000 12.00 12,000.00 4-Feb Purchase 2000 18.00 36,000.00
4-Feb Purchase 2000 18.00 36,000.00 20-Feb Sale -1000 12.00 (12,000.00)
2-Apr Purchase 2000 22.00 66,000.00 -1500 18.00 (27,000.00)
Total COGAS 6000 114,000.00 2-Apr Purchase 3000 22.00 66,000.00
4-Nov Sale -500 18.00 (9,000.00)
Cost of Good Sold -1500 22.00 (33,000.00)
Date Transaction Unit Unit Cost Total Cost Ending Inventory 1500 22.00 33,000.00
20-Feb Sale 1000 12.00 12,000.00
1500 18.00 27,000.00
4-Nov Sale 500 18.00 9,000.00
1500 22.00 33,000.00
Total Cost of Good Sold 4500 81,000.00

Unit Total Cost

COGAS 6000 114,000.00
COGS -4500 (81,000.00)
Ending Inventory 1500 33,000.00

c.) Periodic System, Average Cost Method d.) Perpetual System, Moving Average Method
Date Transaction Unit Unit Cost Total Cost Date Transaction Unit Unit Cost Total
1-Jan Inventory, Beg 1000 12.00 12,000.00 1-Jan Inventory, Beg 1000 12.00 12,000.00
4-Feb Purchase 2000 18.00 36,000.00 4-Feb Purchase 2000 18.00 36,000.00
2-Apr Purchase 2000 22.00 66,000.00 Balance 3000 16.00 48,000.00
6000 114,000.00 20-Feb Sale -2500 16.00 (40,000.00)
Balance 500 16.00 8,000.00
Date Transaction Unit 2-Apr Purchase 3000 22.00 66,000.00
20-Feb Sale 2500 Balance 3500 21.14 74,000.00
4-Nov Sale 2000 4-Nov Sale -2000 21.14 (42,280.00)
Total Sale 4500 Ending Inventory 1500 21.14 31,720.00

Unit Cost 114000/6000 = 19

Unit Unit Cost Total Cost

COGS 6000 19.00 114,000.00
Sale -4500 19.00 (85,500.00)
Ending Inventory 1500 19.00 28,500.00