Question
1: Beginning merchandise inventory was 800 units costing $10 = $8,000 April 12 Purchase 1,100 units costing $11 = $12,100 April 21 Purchase 1,200 units
1: Beginning merchandise inventory was 800 units costing $10 = $8,000 April 12 Purchase 1,100 units costing $11 = $12,100 April 21 Purchase 1,200 units costing $12 = $14,400 April 29 Purchase 900 units costing $13 = $11,700 Total Goods Available for Sale = 4,000 units with a total cost of $46,200 At the end of April, 1,300 units remain on hand. Compute the cost of the goods sold in April and the total cost of the ending inventory units on April 30 using the First-in, First-Out Costing Method (FIFO)
2: Beginning merchandise inventory was 800 units costing $10 = $8,000 April 12 Purchase 1,100 units costing $11 = $12,100 April 21 Purchase 1,200 units costing $12 = $14,400 April 29 Purchase 900 units costing $13 = $11,700 Total Goods Available for Sale = 4,000 units with a total cost of $46,200 At the end of April, 1,300 units remain on hand. Compute the cost of the goods sold in April and the total cost of the ending inventory units on April 30 using the Last-in, First-Out Costing Method (LIFO)
3: Beginning merchandise inventory was 800 units costing $10 = $8,000 April 12 Purchase 1,100 units costing $11 = $12,100 April 21 Purchase 1,200 units costing $12 = $14,400 April 29 Purchase 900 units costing $13 = $11,700 Total Goods Available for Sale = 4,000 units with a total cost of $46,200 At the end of April, 1,300 units remain on hand. Compute the cost of the goods sold in April and the total cost of the ending inventory units on April 30 using the Weighted Average costing method
First-In, First-Out Costing (FIFO) Ending Inventory Unit Unit / Units Total Total Cost of Goods Sold Unit Units Cost Units | Cost | Unit | Total Cost Units Total Cost Last-In, First-Out Costing (LIFO) Ending Inventory Unit Units Cost Total Cost Cost of Goods Sold Unit Units Cost Total Cost Weighted Average Costing Ending Inventory Unit Units Cost Total Cost Cost of Goods Sold Unit Units Cost Total Cost |
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