2009 FIFO

Units Price per Cost of Goods Price per Units

Purchased Unit Purchased Units Sold Unit Remaining

COGS 1840 20
600 20.25
380 21

Inventory 21 420
21.25 400
21.5 200

Total

2010

Units Price per Cost of Goods Price per Units

Purchased Unit Purchased Units Sold Unit Remaining

COGS 420 21
400 21.25
200 21.5
700 21.5
700 21.5
660 22

Inventory 22 40
22.25 1000

2011

Units Price per Cost of Goods Price per Units

Purchased Unit Purchased Units Sold Unit Remaining

COGS 40 22
1000 22.25
1000 22.5
700 22.75
210 23
Inventory 23 490
23.5 700

FIFO LIFO
2009 sales 95880 95880
cogs 56930 58150
gross margin 38950 37730
taxes 15580 15092 488
net income 23370 22638

FIFO LIFO
2010 sales 110110 110110
cogs 66240 67320
gross margin 43870 42790
taxes 17548 17116 432
net income 26322 25674
 FIFO LIFO
2011 sales 105462.5 105462.5
cogs 66385 67600
gross margin 39077.5 37862.5
taxes 15631 15145 486
net income 23446.5 22717.5
1406

FIFO LIFO
2012 sales 96525 96525
cogs 63960 62045
gross margin 32565 34480
taxes 13026 13792
net income 19539 20688
 2009 LIFO

Cost of
Units Goods
Cost of Goods Purchase Price per Purchase Price per
Sold Inventory Value d Unit d Units Sold Unit

36800 COGS 200 21.5

12150 400 21.25
7980 800 21
56930 600 20.25
8820 820 20
8500
4300 Inventory 20
21620

Cost of
Units Goods
Cost of Goods Purchase Price per Purchase Price per
Sold Inventory Value d Unit d Units Sold Unit

8820 COGS 1000 22.25

8500 700 22
4300 700 21.5
15050 680 21.5
15050 0
14520 0
66240 0 Inventory 21.5
880 20
22250
23130

2011

Cost of
Units Goods
Cost of Goods Purchase Price per Purchase Price per
Sold Inventory Value d Unit d Units Sold Unit

880 COGS 700 23.5

22250 700 23
22500 700 22.75
15925 850 22.5
4830 0
 0 0
66385 Inventory 20
11270 21.5
16450 22.5
27720

732
sales 2700
begin 1190
end 400
purchases 1910 @ 24

FIFO COGS
648 23 490 11270
23.5 700 16450
 24 1510 36240
63960

LIFO COGS
24 1910 45840
729 22.5 150 3375
2109 21.5 20 430
20 620 12400
62045
Units Cost of
Remainin Goods Inventory
g Sold Value

4300
8500
16800
12150
16400
58150
1020 20400

Units Cost of
Remainin Goods Inventory
g Sold Value

22250
15400
15050
14620
0
67320
20 430
1020 20400

20830

Units Cost of
Remainin Goods Inventory
g Sold Value

16450
16100
15925
19125
 67600
1020 3375
20 430
150 20400
24205

1510
 Cost Sheet
Particulars Amount Amount Units
RM purchased
Add: Opening RM inventory
Less: Closing RM inventory
Direct Materials Consumed XXX
Direct Labour XXX
Direct Expenses XXX
Prime Cost XXX XXX
Manufacturing Overheads:
Indirect costs related to manufacturing XXX
Electicity XXX
Rent XXX
Depreciation XXX
Indirect wages XXX
Total Manufacturing Cost XXX XXX
Add: Opening WIP XXX XXX
Less: Closing WIP XXX XXX
Cost of Manufacturing/Production (Factory/works cost) XXX XXX
office and Admin overhead:
Office Salary XXX
office rent XXX
office expenses XXX
Cost of Production/office costs XXX XXX
Add: Opening FG XXX XXX
Less: Closing FG XXX XXX
Cost of Goods Sold XXX XXX
Selling, General and Admin (SGA) overheads XXX
Advertising XXX
Distribution XXX
Administrative salary XXX
Head office expenses XXX
Total Cost/Cost of Sales XXX XXX
Profit/loss XXX
Sales/ Selling Price XXX XXX
Cost per unit

XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX

XXX
 Cost Sheet
Particulars Amount Amount Units Cost per unit
RM purchased
Add: Opening RM inventory
Less: Closing RM inventory
Direct Materials Consumed
Direct Labour
Direct Expenses
Prime Cost
Manufacturing Overheads:
Indirect costs related to manufacturing
Electicity
Rent
Depreciation
Indirect wages
Total Manufacturing Cost
Add: Opening WIP
Less: Closing WIP
Cost of Manufacturing/Production (Factory/works cost)
office and Admin overhead:
Office Salary
office rent
office expenses
Cost of Production/office costs
Add: Opening FG
Less: Closing FG
Cost of Goods Sold
Selling, General and Admin (SGA) overheads
Advertising
Distribution
Administrative salary
Head office expenses
Total Cost/Cost of Sales
Profit/loss
Sales/ Selling Price
 Consumable Materials
Cost per unit Units Amount
Opening Stock 2000 20000
Purchases 10000 120000
Closing Stock 1000 12000

Direct wages 36000

Direct expenses 24000
Indirect wages 200% of direct wages
Administrative overheads 50% of cost of manufacturing
Selling and General 30% of COGS
Other information
Total Production 10000
Sales 9000 units at Rs.50 each
Opening stock of finished goods 3000 63000

Opening WIP 1000 20000

Closing WIP 2000
10
12
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Sanskar Vijayvargiya

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send
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odo-jvxw-ebc
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