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    Cat Company

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    Kwan21
    The document describes transactions for Material #4170, 7028, 5393 during July using a perpetual inventory system. It lists the beginning balance, items received and issued on various dates, and the ending balance. Calculations are shown for unit cost, quantity, and total amount for the inventory balance on each transaction date.

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    Cat Company

    Uploaded by

    Kwan21
    13 views3 pages
    The document describes transactions for Material #4170, 7028, 5393 during July using a perpetual inventory system. It lists the beginning balance, items received and issued on various dates, and the ending balance. Calculations are shown for unit cost, quantity, and total amount for the inventory balance on each transaction date.

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    The document describes transactions for Material #4170, 7028, 5393 during July using a perpetual inventory system. It lists the beginning balance, items received and issued on various dates, and the ending balance. Calculations are shown for unit cost, quantity, and total amount for the inventory balance on each transaction date.

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    © All Rights Reserved
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    13 views3 pages

    Cat Company

    Uploaded by

    Kwan21
    The document describes transactions for Material #4170, 7028, 5393 during July using a perpetual inventory system. It lists the beginning balance, items received and issued on various dates, and the ending balance. Calculations are shown for unit cost, quantity, and total amount for the inventory balance on each transaction date.

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    of 3

    CAT COMPANY

    PRACTICE PROBLEM

    CAT COMPANY that uses a perpetual inventory system had the following transactions for
    Material #4170,7028,5393 during July:

    July 4170,7028,5394170,7028,539 Beginning balance: 4170,7028,539,8670 units @


    P4170,7028,5394170,7028,5394170,7028,539.670 per unit

    4170 Issued 4170,7028,5394170,7028,539,4170,7028,539670 units

    6 Got 4170,7028,5394170,7028,539,67070 units @


    P4170,7028,5394170,7028,5393.370 per unit

    8 Issued 4170,7028,5394170,7028,539,67070 units

    4170,7028,5394170,7028,5394170 Got 4170670 units @


    P4170,7028,5394170,7028,5394170.670 per unit

    4170,7028,5394170,7028,53970 Issued 8670 units

    4170,7028,53970 Got 5670 units @


    P4170,7028,5394170,7028,5394170.4170,7028,5394170,7028,5396 per unit

    REQUIRED:
    SOLUTION PRACTICE PROBLEM

    B. LIFO Costing
    Date Receipts Issues Balance
    Quantit Unit Amount Quantit Unit Amount Quantity Unit Amount
    y Cost y Cost Cost
    July Balance 4170,702 P4170 P33,667
    4170,7 8,539,86 ,7028 0
    028,53 70 ,5394
    94170, 170,7
    7028,5 028,5
    39 39417
    0,702
    8,539
    4170 4170,702 P4170 P4170,7 4170,702 4170, 4170,70
    8,539417 ,7028, 028,539 8,539417 7028, 28,5394
    0,7028,5 53941 4170,70 0,7028,5 53941 170,702
    39,4170, 70,70 28,5394 39,6670 70,70 8,5399,4
    7028,539 28,53 170,417 28,53 170,702
    670 94170 0670 94170 8,53967
    ,7028, ,7028 0
    539 ,539
    6 4170,70 P4170, P4170,7 4170,702 4170, 4170,70
    28,5394 7028,5 028,539 8,539417 7028, 28,5394
    170,702 39417 4170,70 0,7028,5 53941 170,702
    8,539,67 0,7028 28,5393, 39,6670 70,70 8,5399,4
    070 ,5393. 3670 28,53 170,702
    370 94170 8,53967
    ,7028 0
    ,539
    4170,702 4170, 4170,70
    8,539417 7028, 28,5394
    0,7028,5 53941 170,702
    39,67070 70,70 8,5393,3
    28,53 670
    93.37
    0
    8 4170,702 4170, 4170,70 4170,702 4170, 4170,70
    8,539417 7028, 28,5394 8,539417 7028, 28,5394
    0,7028,5 53941 170,702 0,7028,5 53941 170,702
    39,67070 70,70 8,5393,3 39,6670 70,70 8,5399,4
    28,53 670 28,53 170,702
    93.37 94170 8,53967
    0 ,7028 0
    ,539
    4170,7 4170670 4170,7 5,6670 4170,702 4170, 4170,70
    028,53 028,53 8,539417 7028, 28,5394
    94170, 94170, 0,7028,5 53941 170,702
    7028,5 7028,5 39,6670 70,70 8,5399,4
    39417 39417 28,53 170,702
    0 0 94170 8,53967
    ,7028 0
    ,539
    4170670 4170, 5,6670
    7028,
    53941
    70,70
    28,53
    94170
    4170,7 4170670 4170, 5,6670 4170,702 4170, 4170,70
    028,53 7028, 8,539417 7028, 28,5394
    94170, 53941 0,7028,5 53941 170,702
    7028,5 70,70 39,4170, 70,70 8,53941
    3970 28,53 7028,539 28,53 70,4170
    94170 670 94170 670
    ,7028
    ,539
    4170670 4170, 4170,86
    7028, 70
    53941
    70,70
    28,53
    94170
    ,7028,
    539
    4170,7 5670 4170,7 70,7087 4170,702 4170, 4170,70
    028,53 028,53 0 8,539417 7028, 28,5394
    970 94170, 0,7028,5 53941 170,702
    7028,5 39,4170, 70,70 8,53941
    39417 7028,539 28,53 70,4170
    0.4170 670 94170 670
    ,7028, ,7028
    53941 ,539
    70,702
    8,5396
    5670 4170, 70,7087
    7028, 0
    53941
    70,70
    28,53
    94170
    .4170
    ,7028
    ,5394
    170,7
    028,5
    396

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