B D E H K First in, First out, FIFO 3 PURCHASES SALES STOCK BALANCE AT THE END month action units CPU total unit 4 CPU Total Units CPU Total January purchases 100 50 5000 6 February bal purchases 50 55 2750 7. 8. March bal bal 10 Sales 30 11 April bal 12 bal purchases 13 80 61 4880 14 May bal 15 bal Sales 110 16 17 June bal 18 bal 19 Sales 50 20 21 Total 230 12630 190 40 22 23 Inventory balance = 230 units = 190 (sold) +40 (stock at the end) 24 12630 = 25 26 27 28 Last in, First out, LIFO 29 PURCHASES SALES STOCK BALANCE AT THE END 30 month action units CPU total unit CPU Total Units CPU Total January purchases 100 50 5000 31 32 February bal 33 purchases 50 55 2750 34 March bal 35 bal 36 Sales 30 37 April bal 38 bal purchases 80 61 4880 39 40 May bal 41 bal 42 Sales 110 43 June bal 44 bal 45 Sales 50 46 47 Total 230 12630 190 40 48 49 Inventory balance = 230 units =190 (sold) +40 (stock at the end) 50 12630 = 51 52 53 AVCO (Average Cost) 54 55 PURCHASES SALES STOCK BALANCE AT THE END 56 month action units CPU total unit CPU Total Units CPU Total January purchases 100 50 5000 57 February bal 58 purchases 50 55 2750 59 60 March bal 61 bal 62 Sales 30 63 April bal 64 bal purchases 4880 65 80 61 May bal 66 67 bal 68 Sales 110 69 June bal 70 bal 71 Sales 50 72 73 Total 230 12630 190 40 74 75 Inventory balance = 230 units =190 (sold) + 40 (stock at the end) 76 12630 = 77 78 Income Statement for the 6 months 79 FIFO LIFO AVCO 80 1. Sales 14720 14720 14720 81 2. Cost of Sales: 82 Opening stocks Sheet1 77 78 Income Statement for the 6 months 79 FIFO LIFO AVCO 80 1. Sales 14720 14720 14720 81 2. Cost of Sales: Opening stocks Purchases 82 83 Closing Stock Cost of Goods Sold 84 85 86 3. Gross Profit 87 88 89 90 91 92 93