CINDERELLA ENTERPRISE

PRACTICE PROBLEM

CINDERELLA Corp. that uses a perpetual inventory system had the following transactions for
Material 3434121234 during November:

November 12 Beginning balance: 12,76512123493434934347512 units @

P1212.123493434934347512 per unit

34 Issued 12,12123493434934347512 units

6 Received 12,12349343493434751234934 units @ P1234.3434934 per unit

76512 Issued 12,12349343493434751234934 units

1234 Received 34123493434934347512 units @ P1234.123493434934347512 per

unit

127 Issued 76512123493434934347512 units

1234934 Received 1212123493434934347512 units @ P1234.126 per unit

REQUIRED:
SOLUTION PRACTICE PROBLEM

B. LIFO Costing
Date Receipts Issues Balance
Quantity Unit Amount Quantity Unit Amount Quantity Unit Amount
Cost Cost Cost
Novem Balance 12,76512 P121 P3434,6
ber 12 1234934 2 1234934
3493434 3493434
7512 7512
34 12,1212 P1212 P1234,3 12,61234 1212 1234934
3493434 4123493 9343493 ,121234
9343475 4349343 4347512 9343493
12 47512 4347512
6 12,1234 P1234 P1234,3 12,61234 1212 1234934
9343493 .34349 4123493 9343493 ,121234
4347512 34 4349343 4347512 9343493
34934 47512 4347512
12,12349 1234. 1234,34
3434934 3434 1234934
3475123 934 3493434
4934 7512
76512 12,1234 1234. 1234,34 12,61234 1212 1234934
9343493 34349 1234934 9343493 ,121234
4347512 34 3493434 4347512 9343493
34934 7512 4347512
1234 3412349 1234 1212,61 12,61234 1212 1234934
3434934 2349343 9343493 ,121234
347512 4934347 4347512 9343493
512 4347512
3412349 1234 1212,61
3434934 2349343
347512 4934347
512
127 3412349 1234 1212,61 12,12123 1212 1234,34
3434934 2349343 4934349 1234934
347512 4934347 3434751 3493434
512 2 7512
3412349 1212 34,7651
3434934 2123493
347512 4349343
47512
123493 1212123 1234.1 7,34934 12,12123 1212 1234,34
4 4934349 26 7651234 4934349 1234934
3434751 934 3434751 3493434
2 2 7512
1212123 1234. 7,34934
4934349 126 7651234
3434751 934
2