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    This document contains accounting information for Cookie Creations, including calculations of cost of goods sold, ending inventory, and gross profit under different inventory costing methods (LIFO, FIFO, average cost). It shows units, unit costs, total costs, and calculations for February 1 and May 4. Gross profit rates are calculated for each period and costing method. The document performs the continuing cookie chronicle for Cookie Creations.

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    ch06 cookie

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    This document contains accounting information for Cookie Creations, including calculations of cost of goods sold, ending inventory, and gross profit under different inventory costing methods (LIFO, FIFO, average cost). It shows units, unit costs, total costs, and calculations for February 1 and May 4. Gross profit rates are calculated for each period and costing method. The document performs the continuing cookie chronicle for Cookie Creations.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    49 views4 pages

    ch06 Cookie

    Uploaded by

    api-274120622
    This document contains accounting information for Cookie Creations, including calculations of cost of goods sold, ending inventory, and gross profit under different inventory costing methods (LIFO, FIFO, average cost). It shows units, unit costs, total costs, and calculations for February 1 and May 4. Gross profit rates are calculated for each period and costing method. The document performs the continuing cookie chronicle for Cookie Creations.

    Copyright:

    © All Rights Reserved
    Download as XLS, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xls, pdf, or txt
    of 4

    Name

    Section
    Date

    Chapter 6 Continuing Cookie Chronicle


    Cookie Creations

    (a)

    Date
    Feb 1

    COST OF GOODS AVAILABLE FOR SALE


    Explanation
    Units
    Unit Cost

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    Gross Profit Rate =
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    LIFO
    Ending Inventory
    Units

    Cost of Goods Sold

    Gross Profit

    Unit Cost

    Total Cost

    Total Cost

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    Name
    Section
    Date

    Chapter 6 Continuing Cookie Chronicle Concluded


    Cookie Creations

    (b) (Continued)

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    FIFO
    Ending Inventory
    Units

    Date
    May 4
    Apr 1

    Unit Cost

    Total Cost

    Cost of Goods Sold

    Gross Profit

    Gross Profit Rate =

    Average Cost Per Unit

    Average Cost
    Ending Inventory
    Units

    Cost of Goods Sold

    Gross Profit

    Gross Profit Rate =

    Unit Cost

    Total Cost

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