Question: Reports with inventory posting Exercise 1. FIFO, LIFO and weighted average Computadoras del Futuro made several purchases and sales in April. He had operational expenses

Reports with inventory posting

Exercise 1. FIFO, LIFO and weighted average

Computadoras del Futuro made several purchases and sales in April. He had operational expenses of $ 500.

Prepare three income statements: one using the FIFO method, another LIFO, and the other using the weighted average.

Calculate the cost of goods sold using the periodic inventory model.

Date Detail Quantity Unit cost (unit cost)

April 1 Starting Inventory 15 $ 72

6 Sale 4 $ 90 sale

8 Buy 11 84

13 Sale 5 $ 95 sale

15 Sale 3 $ 95 sale

19 Buy 20 109

21 Sale 8 $ 100 sale

22 Sale 2 $ 100 sale

27 Buy 10 90

30 Sale 6 $ 110 sale

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