Understanding Inventory Management and Cost of Goods Sold:

School: Concordia University - Course: MBA 642 - Subject: Accounting

Year 1Year 2Year 3 Beg Inv0250550 Purchases125018001950 Goods Available for Sale125020502500 COGS10001500800 End Inv2505501700
 
 
1) JAN6000212000 10300220600Sales38400 293002.161530 45600 FEB282002.262040 153002.639780Sales40700 JANFEBTOTAL FIFO7901090940169950 LIFO7973095660175390 Weighted79267.368493643.716 172911.084 2) JANFEBTOTALGross profit FIFO7901090940169950130050 LIFO7973095660175390124610 Weighted79267.368493643.716 172911.084 127088.916
 
 
456002.06 94130 7200 50700 25400 50700 1166522.3008284

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