Determine the cost assigned to ending inventory and to cost

Question

1. Determine the cost assigned to ending inventory

Weighted Averaue . Perpetual:

Date January 1	Goods purchased			Cost of Goods Sold			# of units	Inventory Balance
	= of units		Cost per unit	= of      Cost per units unit sold		Cost of Goods Sold		Cost per                Inventory unit                                      Balance
							140	@	$        600 =	$       840 00
January 10				$                        6	00	= $               000	15	@	$       6.1:0      =	$           90.00
January 20	60	@	$       5.00				15 60	@ @	S  6.00 = $  5.00 =	$         90.00 300.00
Average cost							75	@	$      5.20'	$       390.00
January 25								I

January 30           180 @ $       4.50  180 @ $        4.50 =          810 00

Totals                                                                                                                                              180 @

2. Determine the cost assigned to ending inventory and to cost of goods sold using LIFO.

Perpetual LIFO:

Date

Goods purchased

Cost of Goods Sold

2= of units

Inventory Balance

January 1	= of                           Cost units                pet unit			Cost = of units sold pet unit	Cost of Goods Sold		.           Cost Inventory per unit      Balance
January 10							140	@	$       600	=	$ 840 CD
							15	@

January 20

60

@

$      5.00

15

							60	@	$      5.00	=	300.00
											$ 300_00
January 25							15
				@                    $    5 CO	=	0.00	5	@	$      5.00	=	$   25.00
											$   25.00

January 30

180

@

$      4.50

15

5

@

$      5.00

=

25.00

180

@

$      4.50

=

810.00

Totals

$        0.00

$ 835.00