copy of perpetual inventory example
TRANSCRIPT
Perpetual Inventory Worksheet - FIFOCOST OF M'DSE SOLD INVENTORY BALANCE
UNIT TOTAL UNIT TOTAL UNIT TOTAL DATE QTY. COST COST QTY. COST COST QTY. COST COST 1-Jan 3 170 510 510 2-Jan 10 180 1800 3 170 510
10 180 1,800 2,310 5-Jan 3 170 510
3 180 540 7 180 1,260 1,260 12-Jan 8 190 1520 7 180 1,260
8 190 1,520 2,780 18-Jan 7 180 1260
2 190 380 6 190 1,140 1,140 24-Jan 6 200 1200 6 190 1,140
6 200 1,200 2,340 31-Jan 6 190 1140
2 200 400 4 200 800 800
Totals $ 4,520 $ 4,230 800
Cost of Goods Purchased $ 4,520 Proof: Cost of Goods Sold $ 4,230 Beginning Inventory $ 510 Cost of Goods in Ending Inventory $ 800 + purchases 4,520 Quantity of Goods in Inventory 4 = M'dse. Available 5,030
- Ending Inventory 800 = Cost of M'dse. Sold 4,230
Perpetual Inventory Worksheet - LIFO
PURCHASES
COST OF M'DSE SOLD INVENTORY BALANCE UNIT TOTAL UNIT TOTAL UNIT TOTAL
DATE QTY. COST COST QTY. COST COST QTY. COST COST 1-Jan 3 170 510 510 2-Jan 10 180 1800 3 170 510
10 180 1,800 2,310 5-Jan 6 180 1080 3 170 510
4 180 720 1,230 12-Jan 8 190 1520 3 170 510
4 180 720 8 190 1,520 2,750
18-Jan 8 190 1520 3 170 510 1 180 180 3 180 540 1,050
24-Jan 6 200 1200 3 170 510 3 180 540 6 200 1,200 2,250
31-Jan 6 200 1200 3 170 510 2 180 360 1 180 180 690
Totals $ 4,520 $ 4,340 690
Cost of Goods Purchased $ 4,520 Proof: Cost of Goods Sold $ 4,340 Beginning Inventory $ 510 Cost of Goods in Ending Inventory $ 690 + purchases 4,520 Quantity of Goods in Inventory 4 = M'dse. Available 5,030
- Ending Inventory 690 = Cost of M'dse. Sold 4,340
Perpetual Inventory Worksheet - AVG. COST
PURCHASES
A new average cost per unit must be computed after each new purchase
COST OF M'DSE SOLD INVENTORY BALANCE UNIT TOTAL UNIT TOTAL avg unit TOTAL
DATE QTY. COST COST QTY. COST COST QTY. COST COST 1-Jan 3 170.00 510.00 510.00 2-Jan 10 180 1800 13 177.69 2,310.00
2,310.00 5-Jan 6 177.69 1,066.15 7 177.69 1,243.85
1,243.85 12-Jan 8 190 1520 15 184.26 2,763.85
2,763.85 18-Jan 9 184.26 1,658.31 6 184.26 1,105.54
1,105.54 24-Jan 6 200 1200 12 192.13 2,305.54
2,305.54 31-Jan 8 192.13 1,537.03 4 192.13 768.51
768.51
Totals $ 4,520 $ 4,261.49 768.51
Cost of Goods Purchased $ 4,520.00 Proof: Cost of Goods Sold $ 4,261.49 Beginning Inventory $ 510.00 Cost of Goods in Ending Inventory $ 768.51 + purchases $ 4,520.00 Quantity of Goods in Inventory $ 4.00 = M'dse. Available $ 5,030.00
- Ending Inventory $ 768.51 = Cost of M'dse. Sold $ 4,261.49
PURCHASES