Exercise4 his Company uses the perpetual inventory method per Uni 1-Mar 140 x $

Question

Exercise4 his Company uses the perpetual inventory method per Uni 1-Mar 140 x $ 7.00=$ 980.00 4 Beg. Inv Purchase 10-Mar 105 x $ 8.19= $ 859.95 Purchase 15-Mar 210 x $ 8.68= $1,822.80 Sale Purchase 24-Mar 182 x $ 9.24= $ 1,681.68 Sale 21-Mar 399x $ 16.80= $ 6,703.20 (at retail price) 27-Mar 140x$ 17.50= 2,450.00 (at retail price) 54 35 Calculate COGS & Ending Inventory assuming the perpetual method HU 39 Cost ot Goods Sold Inventory Balance Cost/Unit Cost/Unit Units 140 x$ 7.00980.00 105 x$ 8.19 859.95 210 x$ 8.681,822.80 455 Date Units Total Total 41 42 43 Beg. Inv.1-Mar Purchase 10-Mar Purchase 15-Mar Total Sale 21-Mar 140 x $ 7.00980.00 $ 3,662.75 45 46 47 48 49 50 51 52 53 54 105x $ 8.19 | = | $ 859.95 154 x $8.681,336.72 399 Total 3,176.67 154 x $ 8.68 1,336.72 X 182 x 9.241,681.68 336 Purchase 24-Mar Total $ 3,018.40 X Sale 27-Mar 0 Cost of Goods Sold Ending Inventory

Explanation / Answer

FIFO Cost of Goods Sold Inventory Balance Date Units Cost/Unit Total $ Units Cost/Unit Total $ Beg. Inv. 01-Mar 140 x 7.00 = 980.00 Purchase 10-Mar 105 x 8.19 = 859.95 Purchase 15-Mar 210 x 8.68 = 1822.80 Total 455 3662.75 Sale 21-Mar 140 x 7.00 = 980.00 105 x 8.19 = 859.95 154 x 8.68 = 1336.72 Total 399 3176.67 56 x 8.68 = 486.08 Purchase 24-Mar 182 x 9.24 = 1681.68 Total 238 2167.76 Sale 56 x 8.68 = 486.08 84 x 9.24 = 776.16 140 1262.24 98 x 9.24 = 905.52 Cost of Goods Sold 4438.91 Ending Inventory 905.52 LIFO Cost of Goods Sold Inventory Balance Date Units Cost/Unit Total $ Units Cost/Unit Total $ Beg. Inv. 01-Mar 140 x 7.00 = 980.00 Purchase 10-Mar 105 x 8.19 = 859.95 Purchase 15-Mar 210 x 8.68 = 1822.8 Total 455 3662.75 Sale 21-Mar 210 x 8.68 = 1822.8 105 x 8.19 = 859.95 84 x 7.00 = 588.00 Total 399 3270.75 56 x 7.00 = 392.00 Purchase 24-Mar 182 x 9.24 = 1681.68 Total 238 2073.68 Sale 140 x 9.24 = 1293.6 56 x 7.00 = 392.00 42 x 9.24 = 388.08 98 780.08 Cost of Goods Sold 4564.35 Ending Inventory 780.08 Weighted Average Cost of Goods Sold Inventory Balance Date Units Cost/Unit Total $ Units Cost/Unit Total $ Beg. Inv. 01-Mar 140 x 7.00 = 980.00 Purchase 10-Mar 105 x 8.19 = 859.95 Purchase 15-Mar 210 x 8.68 = 1822.80 Total 455 3662.75 Sale 21-Mar 399 x 8.05 = 3211.95 56 x 8.05 = 450.8 Purchase 24-Mar 182 x 9.24 = 1681.68 Total 238 2132.48 Sale 140 x 8.96 = 1254.4 98 x 8.96 = 878.08 Cost of Goods Sold 4466.35 Ending Inventory 878.08

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