Task 3.2

Exercise 1. FIFO, LIFO and weighted average

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

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

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

Date Detail Quantity Unit cost (unit cost)

Abril 1 Inventario inicial 15 $72

6 Venta 4 $90 la venta

8 Compra 11 84

13 Venta 5 $95 la venta

15 Venta 3 $95 la venta

19 Compra 20 109

21 Venta 8 $100 la venta

22 Venta 2 $100 la venta

27 Compra 10 90

30 Venta 6 $110 la venta

Exercise 2. Periodic inventory

Using the periodic inventory method, compute the cost of goods sold for the following exercise:

Date Detail Quantity Unit cost (unit cost)

Mayo 1 Inventario inicial 12 $112

6 Venta 6

8 Compra 18 103

13 Venta 8

30 Venta 4