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  • Accounting 3

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    afiatika ayyi
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    1. The document shows a table tracking purchases, sales, and inventory quantities and costs over multiple periods using both FIFO and LIFO costing methods. 2. Under the LIFO method, the ending inventory cost is lower than under the FIFO method due to older, higher cost units being assumed to be sold first under LIFO. 3. Adopting the LIFO method would result in a lower ending inventory value being reported on the balance sheet.

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    Akuntansi Pengantar

    Original Title

    ACCOUNTING 3

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    1. The document shows a table tracking purchases, sales, and inventory quantities and costs over multiple periods using both FIFO and LIFO costing methods. 2. Under the LIFO method, the ending inventory cost is lower than under the FIFO method due to older, higher cost units being assumed to be sold first under LIFO. 3. Adopting the LIFO method would result in a lower ending inventory value being reported on the balance sheet.

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    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    8 views2 pages

    Accounting 3

    Uploaded by

    afiatika ayyi
    1. The document shows a table tracking purchases, sales, and inventory quantities and costs over multiple periods using both FIFO and LIFO costing methods. 2. Under the LIFO method, the ending inventory cost is lower than under the FIFO method due to older, higher cost units being assumed to be sold first under LIFO. 3. Adopting the LIFO method would result in a lower ending inventory value being reported on the balance sheet.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as doc, pdf, or txt
    of 2

    A.

    Cost of merchandise
    Purchases inventory
    sold
    tgl
    Unit Total Unit Total Unit Total
    Quantity Quantity Quantity
    cost cost cost cost cost cost
    1 120 39 4.680
    6 90 39 3.510 30 39 1.170
    14 140 40 5600 30 39 1.170
    140 40 5.600
    19 30 39 1.170 60 40 2.400
    80 40 3.200
    25 45 40 1.800 15 40 600
    30 160 43 6880 15 40 600
    160 43 6.880
    9.680 7.480

    B.
    Cost of merchandise
    Purchases inventory
    sold
    tgl
    Unit Total Unit Total Unit Total
    Quantity Quantity Quantity
    cost cost cost cost cost cost
    1 120 39 4.680
    6 90 39 3.510 30 39 1.170
    14 140 40 5600 30 39 1.170
    140 40 5.600
    19 110 40 4.400 30 39 1.170
    30 40 1.200
    25 30 40 1.200 15 39 585
    15 39 585
    30 160 43 6880 15 39 585
    160 43 6.880
    9.680 7.465

    So the conlude is the inventory to be lower if we use LIFO method

    Unit Total
    Inventory Unit cos
    Item market Lower of
    quantity price Cost Market
    price C or M
    C300 77 40 39 3.080 3.003 3.003
    F679 115 8 9 920 1.035 920
    K200 3.180 3 2 9.540 6.360 6.360
    MN23 190 29 26 5.510 4.940 4.940
    Xx51 226 19 18 4.294 4.068 4.068
    Total 19.291

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