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C ompute the ending inventory using LIFO units price 1-Jan Beginning inventory 3,500 $ 3.00 14-Jan Bought 1,500 $ 3.15 5-Feb Sold 1,000 22-Feb Bought
Compute the ending inventory using LIFO
| units | price | ||||||||||||
| 1-Jan | Beginning inventory | 3,500 | $ 3.00 | |||||||||||
| 14-Jan | Bought | 1,500 | $ 3.15 | |||||||||||
| 5-Feb | Sold | 1,000 | ||||||||||||
| 22-Feb | Bought | 2,000 | $ 3.20 | |||||||||||
| 7-Mar | Sold | 1,500 | ||||||||||||
| 15-Mar | Sold | 2,000 | ||||||||||||
| 5-Apr | Bought | 1,000 | $ 3.25 | |||||||||||
| 10-Apr | Sold | 800 | ||||||||||||
| 12-Apr | Sold | 800 | ||||||||||||
| 22-Apr | Sold | 500 | ||||||||||||
| 4-May | Sold | 600 | ||||||||||||
| 10-May | Bought | 2,000 | $ 3.30 | |||||||||||
| 25-May | Sold | 500 | ||||||||||||
| LIFO Periodic Inventory (scroll down to see Perpetual input area) | ||||||||||||||
| Purchased | Sold | Balance | ||||||||||||
| Date | units | cost | total | units | cost | total | units | cost | total | |||||
| 1-Jan | 3500 | $ 3.00 | $ 10,500.00 | |||||||||||
| LIFO Perpetual Inventory | ||||||||||||||
| Purchased | Sold | Balance | ||||||||||||
| Date | units | cost | total | units | cost | total | units | cost | total | |||||
| 1-Jan | 3500 | $ 3.00 | $ 10,500.00 | |||||||||||
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SAP Audit Black Book
Authors: Bhushan Jairamdas Mamtani
1st Edition
9351194086, 978-9351194088
