FIFO, LIFO, WEIGHTED AVERAGE

- Determine cost of beginning inventory and each purchase, each sale, ending inventory

Beginning inventory 100 units at 150

Purchases

January 3: 100 units at 50

February 10: 150 units at 45

June 3: 90 units at 60

August 2: 200 units at 40

October 10: 210 units at 40

Sales:

January 4: 40 units

March 11: 30 units

June 31: 50 units

September 10: 80 units

November 2: 50 units

After determining the cost of beginning inventory and each purchase, each sale, ending inventory fill in the spreadsheet.

WTD AVE GOODS PURCHASED COST OF GOODS SOLD INVENTORY BALANCE AVG COST date 1/2 1/3 MEGINNING BALANCE $50.00 $5,000.00 $50.00 DIV/0! 414 2/10. DIV/0! #DIV/01 NOIV/! w/3 WDIV/01 6/31 #DIV/01 812 WDIV/0! ala NDIV/0! 10/30 #DIV/01 11/2 ON/O $5,000.00 $5,000.00 $5,000.00 TOTAL AVAILABLE FOR SALE (beginning inventory plus all purchases) TOTAL COST OF GOODS SOLD ENDING INVENTORY