TUGAS 3 KELOMPOK 3 AKM 1

Anggota Kelompok: 1. Audi Syahputra (170503003)

2. Afrilliana (170503012)
3. Adinda Andaresta Sihombing (170503022)
4. Yuni Elvira (170503031)

SOAL 1 (Buku Intermediate Accounting IFRS Edition-Kieso, Weygant, Warfield)

*P8-6 (Compute FIFO, Average Cost—Periodic and Perpetual) Ehlo Company is a multiproduct firm. Presented
below is information concerning one of its products, the Hawkeye.
Date Transaction Quantity Price/Cost
1/1 Beginning inventory 1,000 €12
2/4 Purchase 2,000 18
2/20 Sale 2,500 30
4/2 Purchase 3,000 23
11/4 Sale 2,200 33
Instructions
Compute cost of goods sold, assuming Ehlo uses:

(a) Periodic system, FIFO cost flow. (c) Periodic system, weighted-average cost flow.
(b) Perpetual system, FIFO cost flow. (d) Perpetual system, moving-average cost flow.

JAWAB:

(a) Beginning inventory.......................... 1,000

Purchases (2,000 + 3,000)...................... 5,000
Units available for sale .......................... 6,000
Sales (2,500 + 2,200).............................. 4,700
Goods on hand....................................... 1,300

Periodic FIFO
1,000 X €12 = €12,000
2,000 X €18 = 36,000
1,700 X €23 = 39,100
4,700 €87,100

(b) Perpetual FIFO

Purchased Cost of Goods Sold Inventory
Date Quantity Unit Total Quantity Unit Total Quantity Unit Total
Cost Cost Cost Cost Cost Cost
1/1 1,000 €12 €12,000
2/4 2,000 €18 €36,000 1,000 €12 €12,000
2,000 €18 €36,000
2/20 1,000 $12 €12,000 500 €18 €9,000
1,500 $18 €27,000
4/2 3,000 €23 €69,000 500 €18 €9,000
3,000 €23 €69,000
11/4 500 $18 €9,000 1,300 €23 €29,900
1,700 $23 €39,100
Total €87,100
 (c) Periodic weighted-average
1,000 X €12 = € 12,000
2,000 X €18 = 36,000
3,000 X €23 = 69,000 4,700
€117,000 ÷ 6,000 = €19.50 X € 19.50
€91,650

(d) Perpetual moving average

Purchased Cost of Goods Sold Inventory

Date Quantity Unit Total Quantity Unit Total Quantity Unit Total
Cost Cost Cost Cost Cost Cost
1/1 1,000 €12 €12,000
2/4 2,000 €18 €36,000 3,000 €16 €48,000
2/20 2,500 €16 €40,000 500 €16 €8,000

4/2 3,000 €23 €69,000 3,500 €22 €77,000

11/4 2,200 €22 €48,400 1,300 €22 €28,600
Total €88,400

SOAL 2 (Buku Intermediate Accounting IFRS Edition-Kieso, Weygant, Warfield)

*P9-5 (Gross Profit Method) Yu Company lost most of its inventory in a fire in December just before the year-end
physical inventory was taken. Corporate records disclose the following.

Inventory (beginning) ¥ 80,000

Sales ¥ 415,000
Purchases 290,000
Sales returns 21,000
Purchase returns 28,000
Gross profit % based on
net selling price 35%
Merchandise with a selling price of ¥30,000 remained undamaged after the fire, and damaged merchandise has a
salvage value of ¥8,150. The company does not carry fire insurance on its inventory.
Instructions
Prepare a formal labeled schedule computing the fire loss incurred.

JAWAB:

Beginning inventory ......................................................................................................................................... ¥ 80,000

Purchases .......................................................................................................................................................... 290,000
370,000
Purchase returns .............................................................................................................................................. (28,000)
Total goods available......................................................................................................................................... 342,000
Sales ......................................................................................................................................... ¥415,000
Sales returns............................................................................................................................... (21,000)
394,000
Less: Gross profit (35% of ¥394,000)......................................................................................... 137,900 (256,100)
Ending inventory (unadjusted for damage)......................................................................................................... 85,900
Less: Goods on hand—undamaged
(¥30,000 X [1 – 35%]) .......................................................................................................................................... 19,500
Inventory damaged ............................................................................................................................................. 66,400
Less: Salvage value of damaged inventory ........................................................................................................... 8,150
Fire loss on inventory ....................................................................................................................................... ¥ 58,250