Reports with inventory posting Selling Price $200 each

Exercise 1. FIFO, LIFO and weighted average

Computadoras del Futuro made several purchases and sales in April. He had operating expenses of $ 1,800.

Prepare three income statements: one using the FIFO method, another LIFO, and the other using the weighted average.

Calculate the cost of goods sold using the periodic inventory model.

Date Detail Quantity Unit cost

April 1 Starting Inventory 6 $ 72

6 Sale 4

8 Buy 11 84

13 Sale 5

15 Sale 3

19 Buy 20 109

21 Sale 8

22 Sale 2

27 Buy 10 90

30 Sale 6

Exercise 2. Periodic inventory

Using the periodic inventory method, compute the cost of goods sold for the following exercise:

Date Detail Quantity Unit cost

May 1 Starting Inventory 12 $ 112

6 Sale 6

8 Buy 18 103

13 Sell 8

30 Sale 4