ACC 205 W3 Assignment
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"Week 3 Assignment"
Theresa M. Odom
ACC 205
Brent Beyer
November 2, 2014
Week 3 Assignment
- Specific identification method.
a. Cost of goods sold
Moon4,000
Woods21,000
25,000
b. Gross profit
Sales35,000
Cost of goods sold-25,000
10,000
c. Ending Inventory
Total available for sale78,000
Cost of goods sold-25,000
53,000
- Inventory valuation methods: basic computations.
FIFO
LIFO
Weighted Average
Goods Available for Sale
82,800
82,800
82,800
Ending Inventory
20,000
16,400
18,400
Cost of Goods Sold
62,800
66,400
64,400
Goods Available
Inventory
300 Units x 40
12,000
Purchase
700 units x 44
30,800
Purchase
800 units x 50
40,000
Total Goods Available
82,800
Ending Inventory
Cost of Goods Sold
Units
Per unit...
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