“Assignment one”
Name: haidy mohamed rezk
ID: 20190800
(1)
“FIFO”
Date
Purchases
Cost of goods sold
Balance
Unit
Cost
Total
Unit
Cost
Total
Unit
Cost
Total
May 1
150
$10.00
1500
May 5
220
$12.00
2640
150
220
=370
10,00
$12.00
1500
2640
=4140
May 10
140
10.00
1400
10
220
=230
$10.00
12,00
100
2640
=2740
May 15
100
13,00
1300
10
220
100
=330
10.00
12.00
13.00
100
2640
1300
=4040
May 24
10
140
10.00
12.00
100
1680
80
100
=180
12.00
13.00
960
1300
=2,260
➢ Ending inventory = 2,260
(2)
Date
Purchases
Cost of goods sold
Balance
Unit
Cost
Total
Unit
Cost
Total
Unit
Cost
Total
May 1
150
$10.00
1500
May 5
220
$12.00
2640
150
220
=370
10,00
$12.00
1500
2640
=4140
May 10
140
10.00
1400
10
220
=230
$10.00
12,00
100
2640
=2740
May 15
100
13,00
1300
10
220
100
=330
10.00
12.00
13.00
100
2640
1300
=4040
May 24
10
140
10.00
12.00
100
1680
=3,180
80
100
=180
12.00
13.00
960
1300
=2260
➢ Cost of goods sold = 3,180
(3)
“LIFO”
Date
Purchases
Cost of goods sold
Balance
Unit
Cost
Total
Unit
Cost
Total
Unit
Cost
Total
May 1
150
10.00
1500
May 5
220
12.00
2640
150
220
=370
10.00
12.00
1500
2640
=4140
May 10
220
80
12.00
12.00
2640
960
150
80
=230
10.00
12.00
1500
960
=2460
May 15
100
13.00
1300
150
80
100
=330
10.00
12.00
13.00
1500
960
1300
=3760
May 24
100
80
13.00
12.00
1300
960
150
30
=180
10.00
12.00
1500
360
=1860
➢ Ending inventory = 1860
(4)
Date
Purchases
Cost of goods sold
Balance
Unit
Cost
Total
Unit
Cost
Total
Unit
Cost
Total
May 1
150
10.00
1500
May 5
220
12.00
2640
150
220
=370
10.00
12.00
1500
2640
=4140
May 10
220
80
12.00
12.00
2640
960
150
80
10.00
12.00
1500
960
80
100
12.00
13.00
960
1300
80
12.00
960
30
=180
12.00
360
