TUTUORIAL TEST 06

LIFO

Goods purchased Cost of Goods Sold Ending Inventory

Date Units Unit Cost Unit Sold Unit Cost COGS # of Units Unit Cost Inventory Balance
May 2 200 $12.00 200 $12.00 $2,400.00
May 9 240 $13.25 200 $12.00 $2,400.00
240 $13.25 $3,180.00
440 $5,580.00
May 12 200 $12.00 $2,400.00 80 $13.25 $1,060.00
160 $13.25 $2,120.00
360 $4,520.00
May 18 420 $14.50 80 $13.25 $1,060.00
420 $14.50 $6,090.00
500 $7,150.00
May 24 190 $14.80 80 $13.25 $1,060.00
420 $14.50 $6,090.00
190 $14.80 $2,812.00
690 $9,962.00
May 30 80 $13.25 $1,060.00 160 $14.80 $2,368.00
420 $14.50 $6,090.00
30 $14.80 $444.00
530 $7,594.00
Total $12,114.00
FIFO
Goods purchased Cost of Goods Sold Ending Inventory

Unit # of Unit Inventory

Date Units Unit Cost Sold Unit Cost COGS Units Cost Balance
May 2 200 $12.00 200 $12.00 $2,400.00
May 9 240 $13.25 200 $12.00 $2,400.00
240 $13.25 $3,180.00
440 $5,580.00
May 12 240 $13.25 $3,180.00 80 $12.00 $960.00
120 $12.00 $1,440.00
360 $4,620.00
May 18 420 $14.50 80 $12.00 $960.00
420 $14.50 $6,090.00
500 $7,050.00
May 24 190 $14.80 80 $12.00 $960.00
420 $14.50 $6,090.00
190 $14.80 $2,812.00
690 $9,862.00
May 30 190 $14.80 $2,812.00 80 $14.50 $1,160.00
340 $14.50 $4,930.00 80 $12.00 $960.00
530 $7,742.00 160 $2,120.00
Total $12,362.00
WEIGHT AVERAGE

Goods purchased Cost of Goods Sold Ending Inventory

Date Units Unit Cost Unit Sold Unit Cost COGS # of Units Unit Cost Inventory Balance
May 2 200 $12.00 200 $12.00 $2,400.00
May 9 240 $13.25 200 $12.00 $2,400.00
240 $13.25 $3,180.00
440 $12.68 $5,580.00
May 12 360 $12.68 $4,565.45 80 $12.68 $1,014.55
May 18 420 $14.50 80 $12.68 $1,014.55
420 $14.50 $6,090.00
500 $14.21 $7,104.55
May 24 190 $14.80 500 $14.21 $7,104.55
190 $14.80 $2,812.00
690 $14.37 $9,916.55
May 30 530 $14.37 $7,617.06 160 $14.37 $2,299.49
Total $12,182.51