Calculate January's ending inventory and cost of goods sold for the month using LIFO, perpetual system....
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Calculate January's ending inventory and cost of goods sold for the month using LIFO, perpetual system. Cost of Goods Available for Sale Cost of Goods Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Perpetual LIFO: Cost of Goods Available for Sale # of units sold # of units sold Cost of Goods Sold Cost of Goods Sold Cost Cost of Goods Sold # of units sold Cost # of units Cost per unit Cost per unit per unit per unit Beg Inventory Purchases: 0 O $0.00 8 s 0 8s 0.00 0.00 Is 0Os 0.00 January 10 5,000 O 9.00 45,000 2,000 X 9.00 18,000 8,000 8 9.00 72,000 8,625 X 9.00 77,625 January 18 6,000 O 10.00 O 60,000 4,000 8 10.00 40,000 12,000 X 10.00 120,000 93,125 X 10.00 931,250 Total 11,000 S 105,000 6,000 $ 58,000 20,000 $ 192,000 101,750 1,008,875 Calculate January's ending inventory and cost of goods sold for the month using LIFO, perpetual system. Cost of Goods Available for Sale Cost of Goods Sold - January 5 Cost of Goods Sold - January 12 Cost of Goods Sold - January 20 Perpetual LIFO: Cost of Goods Available for Sale # of units sold # of units sold Cost of Goods Sold Cost of Goods Sold Cost Cost of Goods Sold # of units sold Cost # of units Cost per unit Cost per unit per unit per unit Beg Inventory Purchases: 0 O $0.00 8 s 0 8s 0.00 0.00 Is 0Os 0.00 January 10 5,000 O 9.00 45,000 2,000 X 9.00 18,000 8,000 8 9.00 72,000 8,625 X 9.00 77,625 January 18 6,000 O 10.00 O 60,000 4,000 8 10.00 40,000 12,000 X 10.00 120,000 93,125 X 10.00 931,250 Total 11,000 S 105,000 6,000 $ 58,000 20,000 $ 192,000 101,750 1,008,875
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Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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