DARK COMPANY

PRACTICE PROBLEM

DARK COMPANY that uses a perpetual inventory system had the following transactions for
Material #4170,72308,5393 during September:

September 4170,72308,5394170,72308,539 Beginning balance: 4170,72308,539,8670

units @ P4170,72308,5394170,72308,5394170,72308,539.670 per unit

4170 Issued 4170,72308,5394170,72308,539,4170,72308,539670 units

6 Got 4170,72308,5394170,72308,539,67070 units @

P4170,72308,5394170,72308,5393.370 per unit

8 Issued 4170,72308,5394170,72308,539,67070 units

4170,72308,5394170,72308,5394170 Got 4170670 units @

P4170,72308,5394170,72308,5394170.670 per unit

4170,72308,5394170,72308,53970 Issued 8670 units

4170,72308,53970 Got 5670 units @

P4170,72308,5394170,72308,5394170.4170,72308,5394170,72308,5396 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
Septe Balance 4170,723 P4170 P33,667
mber 08,539,8 ,7230 0
4170,7 670 8,539
2308,5 4170,
39417 72308
0,7230 ,5394
8,539 170,7
2308,
539
4170 4170,723 P4170 P4170,7 4170,723 4170, 4170,72
08,53941 ,7230 2308,53 08,53941 72308 308,539
70,72308 8,539 94170,7 70,72308 ,5394 4170,72
,539,417 4170, 2308,53 ,539,667 170,7 308,539
 0,72308, 72308 94170,4 0 2308, 9,4170,7
539670 ,5394 170670 53941 2308,53
170,7 70,72 9670
2308, 308,5
539 39
6 4170,72 P4170, P4170,7 4170,723 4170, 4170,72
308,539 72308, 2308,53 08,53941 72308 308,539
4170,72 53941 94170,7 70,72308 ,5394 4170,72
308,539, 70,723 2308,53 ,539,667 170,7 308,539
67070 08,539 93,3670 0 2308, 9,4170,7
3.370 53941 2308,53
70,72 9670
308,5
39
4170,723 4170, 4170,72
08,53941 72308 308,539
70,72308 ,5394 4170,72
,539,670 170,7 308,539
70 2308, 3,3670
5393.
370
8 4170,723 4170, 4170,72 4170,723 4170, 4170,72
08,53941 72308 308,539 08,53941 72308 308,539
70,72308 ,5394 4170,72 70,72308 ,5394 4170,72
,539,670 170,7 308,539 ,539,667 170,7 308,539
70 2308, 3,3670 0 2308, 9,4170,7
5393. 53941 2308,53
370 70,72 9670
308,5
39
4170,7 4170670 4170,7 5,6670 4170,723 4170, 4170,72
2308,5 2308,5 08,53941 72308 308,539
39417 39417 70,72308 ,5394 4170,72
0,7230 0,7230 ,539,667 170,7 308,539
8,5394 8,5394 0 2308, 9,4170,7
170 170 53941 2308,53
70,72 9670
308,5
39
4170670 4170, 5,6670
72308
,5394
170,7
2308,
53941
70
4170,7 4170670 4170, 5,6670 4170,723 4170, 4170,72
2308,5 72308 08,53941 72308 308,539
39417 ,5394 70,72308 ,5394 4170,72
0,7230 170,7 ,539,417 170,7 308,539
8,5397 2308, 0,72308, 2308, 4170,41
0 53941 539670 53941 70670
70 70,72
308,5
39
4170670 4170, 4170,86
72308 70
,5394
170,7
2308,
53941
70,72
308,5
39
4170,7 5670 4170,7 70,7087 4170,723 4170, 4170,72
2308,5 2308,5 0 08,53941 72308 308,539
3970 39417 70,72308 ,5394 4170,72
0,7230 ,539,417 170,7 308,539
8,5394 0,72308, 2308, 4170,41
170.41 539670 53941 70670
70,723 70,72
08,539 308,5
4170,7 39
2308,5
396
5670 4170, 70,7087
72308 0
,5394
170,7
2308,
53941
70.41
70,72
308,5
39417
0,723
08,53
96