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    Inventory of TIK, 12/31/ 10 Inventory of TAK, 12 / 31 / 10

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    Jasper Gica
    This document contains inventory information for TIK and TAK for 2007. For TIK, purchases were made in the 1st, 2nd, and 3rd quarters of 2007 totaling 150,000 units with an average unit cost of 71.2. The ending inventory for TIK as of 12/31/2007 was 3417600 units. For TAK, purchases were made in the 1st and 4th quarters of 2007 totaling 240,000 units with an average unit cost of 31. The ending inventory for TAK as of 12/31/2007 was 1860000 units. The total inventory is calculated using both the average cost and FIFO methods.

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    Inventory of TIK, 12/31/ 10 Inventory of TAK, 12 / 31 / 10

    Uploaded by

    Jasper Gica
    17 views2 pages
    This document contains inventory information for TIK and TAK for 2007. For TIK, purchases were made in the 1st, 2nd, and 3rd quarters of 2007 totaling 150,000 units with an average unit cost of 71.2. The ending inventory for TIK as of 12/31/2007 was 3417600 units. For TAK, purchases were made in the 1st and 4th quarters of 2007 totaling 240,000 units with an average unit cost of 31. The ending inventory for TAK as of 12/31/2007 was 1860000 units. The total inventory is calculated using both the average cost and FIFO methods.

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    FA2_Binmaley_JGM

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    This document contains inventory information for TIK and TAK for 2007. For TIK, purchases were made in the 1st, 2nd, and 3rd quarters of 2007 totaling 150,000 units with an average unit cost of 71.2. The ending inventory for TIK as of 12/31/2007 was 3417600 units. For TAK, purchases were made in the 1st and 4th quarters of 2007 totaling 240,000 units with an average unit cost of 31. The ending inventory for TAK as of 12/31/2007 was 1860000 units. The total inventory is calculated using both the average cost and FIFO methods.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as xlsx, pdf, or txt
    17 views2 pages

    Inventory of TIK, 12/31/ 10 Inventory of TAK, 12 / 31 / 10

    Uploaded by

    Jasper Gica
    This document contains inventory information for TIK and TAK for 2007. For TIK, purchases were made in the 1st, 2nd, and 3rd quarters of 2007 totaling 150,000 units with an average unit cost of 71.2. The ending inventory for TIK as of 12/31/2007 was 3417600 units. For TAK, purchases were made in the 1st and 4th quarters of 2007 totaling 240,000 units with an average unit cost of 31. The ending inventory for TAK as of 12/31/2007 was 1860000 units. The total inventory is calculated using both the average cost and FIFO methods.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
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    Download as xlsx, pdf, or txt
    of 2

    2

    Inventory
    First quarter purchases
    Second quarter purchases
    Third quarter purchases
    Total

    3
    Inventory
    First quarter purchases
    Fourth quarter purchases
    Total

    4
    Inventory of TIK, 12/31/ 10
    Inventory of TAK, 12 / 31 / 10
    Total inventory using average method
    Total inventory using FIFO method

    Decrease in ending inventory (Decrease in n


    income)

    TIK Third Quarter


    TAK Fourth Quarter
    Inventory 12/31/07 using
    FIFO

    1
    TAK

    Total TAK
    TIK
    Units Unit Cost Total Cost
    ventory ₱45,000.00 ₱2,550,000.00
    rst quarter purchases ₱9,000.00 70 ₱630,000.00
    econd quarter purchases ₱36,000.00 75 ₱2,700,000.00
    hird quarter purchases ₱60,000.00 80 ₱4,800,000.00
    otal ₱150,000.00 ₱10,680,000.00

    Average Unit Cost 71.2


    Inventory of TIK 12/31/07 3417600

    Units Unit Cost Total Cost


    ventory ₱43,500.00 ₱1,087,500
    rst quarter purchases ₱105,000.00 30 ₱3,150,000
    ourth quarter purchases ₱91,500.00 35 ₱3,202,500
    otal ₱240,000.00 ₱7,440,000

    Average Unit Cost 31


    Inventory of TAK 12/31/07 1860000

    ventory of TIK, 12/31/ 10 ₱3,417,600


    ventory of TAK, 12 / 31 / 10 ₱1,860,000
    otal inventory using average method ₱5,277,600
    otal inventory using FIFO method ₱5,940,000
    ecrease in ending inventory (Decrease in net
    income) -₱662,400

    Units Unit Cost Total Cost


    K Third Quarter ₱48,000.00 80 3840000
    AK Fourth Quarter ₱60,000.00 35 2100000
    ventory 12/31/07 using
    FO ₱108,000.00 5940000

    Units Unit Cost Total Cost


    Fourth Quarter ₱30,000.00 60 ₱1,800,000
    Third Quarter ₱51,000.00 50 ₱2,550,000
    ₱4,350,000
    Third Quarter ₱34,500.00 50 ₱1,725,000
    First Quarter

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