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1. First-In, First-Out Method (list most recent purchases first for each item)
Model Quantity Unit Cost Total Cost
A10
B15
E60
G83
J34
M90
Q70
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2. Last-In, First-Out Method (list oldest purchases first for each item)
Model Quantity Unit Cost Total Cost
A10
B15
E60
G83
J34
M90
Q70
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. Average Cost Method
Model Quantity Unit Cost Total Cost
A10
B15
E60
G83
J34
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Problem 6-5A
Name:
Section:
M90
Q70
Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4.
a. In periods of rising prices, the will result in lower
cost of inventory, a greater amount of cost of merchandise sold, lower net income, and
less taxes in the current year.
b. In periods of falling prices, the will result in lower
net income and would be preferred for income tax purposes.
1. First-In, First-Out Method (list most recent purchases first for each item)
Model Quantity Unit Cost Total Cost
A10 4 76$ 304$
270 140
2. Last-In, First-Out Method (list oldest purchases first for each item)
Model Quantity Unit Cost Total Cost
A10 4 64$ 256$
270 140
3. Average Cost Method
Model Quantity Unit Cost Total Cost
A10 6 70$ 420$
Instructions
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Problem 6-5A
Name:
Solution
Section:
ON
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