5. Changes in Entity A's inventory for Product X for the month of June are shown...
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5. Changes in Entity A's inventory for Product X for the month of June are shown below: Transaction Date June 1 Balance forwarded Quantity 1,400 Unit Cost 924 8 Sale 400 14 Purchase 800 P35 18 Sale 900 22 24 29 Purchase 700 P30 Sale 600 Requirements: Compute for the (a) ending inventory and (b) cost of goods sold under each of the following cases: a. FIFO periodic b. FIFO perpetual c. Weighted average periodic d. Weighted average perpetual (Moving average) 6. Compute for the missing amounts in the table below using T- accounts. Inventory, beg. Net purchases Cost of sales Inventory, end a. 10,000 198,000 112,000 ? b. 36,000 145,000 ? 56,000 C. 15,000 ? 64,000 9,000 d. 112,000 89,200 48,000 5. Changes in Entity A's inventory for Product X for the month of June are shown below: Transaction Date June 1 Balance forwarded Quantity 1,400 Unit Cost 924 8 Sale 400 14 Purchase 800 P35 18 Sale 900 22 24 29 Purchase 700 P30 Sale 600 Requirements: Compute for the (a) ending inventory and (b) cost of goods sold under each of the following cases: a. FIFO periodic b. FIFO perpetual c. Weighted average periodic d. Weighted average perpetual (Moving average) 6. Compute for the missing amounts in the table below using T- accounts. Inventory, beg. Net purchases Cost of sales Inventory, end a. 10,000 198,000 112,000 ? b. 36,000 145,000 ? 56,000 C. 15,000 ? 64,000 9,000 d. 112,000 89,200 48,000
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