Question
Below is information for the month of April for the only product marketed by the company POWER Inc. Balance as of April 1: 120 units
Below is information for the month of April for the only product marketed by the company POWER Inc.
Balance as of April 1: 120 units at $ 7.00 each.
PURCHASES
Date
Units
Sale price in $ (each)
07-April
70
9.44
April 12
90
10.62
April 22
75
11.80
SALES
Date
Units
Sale Value in $ (each)
April 8
80
13.00
April 11
90
14.00
April 21
fifty
15.00
April 24
fifteen
15.00
It is requested:
Prepare inventory movement records for the month of April using the Weighted Average and PEPS (FIFO) methods.
Analyze the differences in cost of sales and inventory balance obtained by both costing methods.
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Financial and Managerial Accounting
Authors: Horngren, Harrison, Oliver
3rd Edition
978-0132497992, 132913771, 132497972, 132497999, 9780132913775, 978-0132497978
