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ID: 2391938 • Letter: O
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om/ilrn/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assignment-take;&inpro; eBook Show Me How Calculator by Thgee Methods Dymac Appliances uses the periodic inventory system. Details regarding the inventory of appliances at January 1, purchases invoices during the next 12 months, and the inventory count at December 31 are summarized as follows: Purchases Invoices Inventory Count December 31 Model A10 B15 E60 G83 134 M90 Q70 Required: 1. Determine the cost of the inventory on December 31 by the first-in, first-out method. 1st 2nd 3rd January1 4 at $ 25 4 at $28 4 at $31 8 at $82 4 at73 3 at 79 6 at 86 3 at 75 3at65 15 at 68 9 at 70 7 at 217 6 at 225 5at235 10 at 234 12 at 53 10 at55 16 at 62 16 at 63 2 at 106 2 at 108 3at126 3 at 128 5 at 169 4 at 179 4 at 184 7 at 189 13 if the inventory of a particular model comprises one entire purchase plus a portion of another purchase acquired at a different unit cost, use a separate line for each purchase. If units are in inventory at two different costs, enter the units PURCHASED MOST RECENTLY first. Dymac Appliances Cost of the Inventory-FIFO Method December 31Explanation / Answer
(1) FIFO :-
Model
Quantity
Unit Cost
Total Cost
A10
4
31
124
A10
1
28
28
B15
6
86
516
B15
1
79
79
E60
5
70
350
G83
9
234
2106
J34
13
63
819
M90
3
128
384
M90
2
126
252
Q70
7
189
1323
Q70
1
184
184
Total
6165
(2) LIFO :-
Model
Quantity
Unit Cost
Total Cost
A10
4
25
100
A10
1
28
28
B15
7
82
574
E60
3
75
225
E60
2
65
130
G83
7
217
1519
G83
2
225
450
J34
12
53
636
J34
1
55
55
M90
2
106
212
M90
2
108
216
M90
1
126
126
Q70
5
169
845
Q70
3
179
537
Total
5653
(3) Weighted Avg :-
Model
Quantity
Unit Cost
Total Cost
A10
5
28
140
B15
7
81
567
E60
5
69
345
G83
9
228
2052
J34
13
59
767
M90
5
119
595
Q70
8
28
224
Total
4690
Avg Unit Cost :-
Model
Total Cost
(A)
Total Quantity (B)
Avg Unit Cost
(A/B)
A10
[(4 * 25) + (4 * 28) + (4 * 31)]
=336
12
28
B15
[(8 * 82) + (4 * 73) + (3 * 79) + (6 * 86)]
=1701
21
81
E60
[(3 * 75) + (3 * 65) + (15 * 68) + (9 * 70)]
=2070
30
69
G83
[(7 * 217) + (6 * 225) + (5 * 235) + (10 * 234)]
=6384
28
228
J34
[(12 * 53) + (10 * 55) + (16 * 62) + (16 * 63)]
=3186
54
59
M90
[(2 * 106) + (2 * 108) + (3 * 126) + (3 * 128)]
=1190
10
119
Q70
[(5 * 169) + (4 * 179) + (4 * 184) + (7 * 189)]
=3620
20
181
Model
Quantity
Unit Cost
Total Cost
A10
4
31
124
A10
1
28
28
B15
6
86
516
B15
1
79
79
E60
5
70
350
G83
9
234
2106
J34
13
63
819
M90
3
128
384
M90
2
126
252
Q70
7
189
1323
Q70
1
184
184
Total
6165
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