A company began January with 9,000 units of its principal product. The cost of each unit...
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A company began January with 9,000 units of its principal product. The cost of each unit is $4. Inventory transactions for the month of January are as follows: Date of Purchase Units January 10 6,000 Purchases Unit Cost* $ 5 Total Cost January 18 9,000 6 $ 30,000 54,000 Totals 15,000 $ 84,000 *Includes purchase price and cost of freight. Sales Date of Sale Units January 5 5,000 January 12 3,000 January 20 6,000 14,000 Total 10,000 units were on hand at the end of the month. 4:52 PM LIFO Number Cost per unit of units COST OF Goods Available for Sale Number of Cost per units sold unit Cost of Goods Sold units in Cost per ending unit Ending Inventory Inventory Beginning Inventory Purchases: 9,000 $4.00 $ 36,000 $ 4.00 $ 0 $ 4.00 $ 0 January 10 6,000 $5.00 30,000 $ 5.00 January 18 9,000 $6.00 54,000 $ 6.00 OO 0 5.00 0 0 $ 6.00 0 Total 24,000 $ 120,000 0 $ 0 0 $ 0 A company began January with 9,000 units of its principal product. The cost of each unit is $4. Inventory transactions for the month of January are as follows: Date of Purchase Units January 10 6,000 Purchases Unit Cost* $ 5 Total Cost January 18 9,000 6 $ 30,000 54,000 Totals 15,000 $ 84,000 *Includes purchase price and cost of freight. Sales Date of Sale Units January 5 5,000 January 12 3,000 January 20 6,000 14,000 Total 10,000 units were on hand at the end of the month. 4:52 PM LIFO Number Cost per unit of units COST OF Goods Available for Sale Number of Cost per units sold unit Cost of Goods Sold units in Cost per ending unit Ending Inventory Inventory Beginning Inventory Purchases: 9,000 $4.00 $ 36,000 $ 4.00 $ 0 $ 4.00 $ 0 January 10 6,000 $5.00 30,000 $ 5.00 January 18 9,000 $6.00 54,000 $ 6.00 OO 0 5.00 0 0 $ 6.00 0 Total 24,000 $ 120,000 0 $ 0 0 $ 0
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