FIFO, LIFO and weighted average Computadoras del Futuro made several purchases and sales in April. He had operating expenses of $ 1,800. to. Prepare three income statements: one using the FIFO method, another LIFO, and the other using the weighted average. The merchandise was sold for $ 200 each. b. Calculate the cost of goods sold using the periodic inventory model.
|
Date |
Detail |
Quantity |
(unit cost) |
|
April 1 |
Initial inventory |
6 |
$72 |
|
6 |
Sale |
4 |
|
|
8 |
Purchase |
11 |
84 |
|
13 |
Sale |
5 |
|
|
15 |
Sale |
3 |
|
|
19 |
Purchase |
20 |
109 |
|
21 |
Sale |
8 |
|
|
22 |
Sale |
2 |
|
|
27 |
Purchase |
10 |
90 |
|
30 |
Sale |
6 |
