inventoriesandthecostofgoodssold(编辑修改稿)

inventoriesandthecostofgoodssold(编辑修改稿)内容摘要：

$130 each. Continue D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ A u g . 1 4 10 @ 91$ = 910$ 10 @ 106$ = 1 , 0 6 0$ 530$ FIFO Example The Cost of Goods Sold for the August 14 sale is $1,970, leaving $530 and 5 units in inventory. Continue Let’s look at the entries for the Aug. 14 sale. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill FIFO Example G E N E R A L J O U R N A LD a t e A c c o u n t T i t l e s a n d E x p l a n a t i o n D e b i t C r e d i tA u g . 14 C a s h 2 , 6 0 0S a l e s 2 , 6 0 014 C o s t o f G o o d s S o l d 1 , 9 7 0I n v e n t o r y 1 , 9 7 0Retail Cost Continue A similar entry is made after each sale. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill Additional purchases were made on August 17 and August 28. On August 31, an additional 23 units were sold. FIFO Example Continue D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ A u g . 1 4 10 @ 91$ = 910$ 10 @ 106$ = 1 , 0 6 0$ 530$ A u g . 1 7 20 @ 115$ = 2 , 3 0 0$ 2 , 8 3 0$ A u g . 2 8 10 @ 119$ = 1 , 1 9 0$ 4 , 0 2 0$ ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill FIFO Example D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ A u g . 1 4 10 @ 91$ = 910$ 10 @ 106$ = 1 , 0 6 0$ 530$ A u g . 1 7 20 @ 115$ = 2 , 3 0 0$ 2 , 8 3 0$ A u g . 2 8 10 @ 119$ = 1 , 1 9 0$ 4 , 0 2 0$ A u g . 3 1 5 @ 106$ = 530$ 18 @ 115$ = 2 , 0 7 0$ 1 , 4 2 0$ Cost of Goods Sold for August 31 = $2,600 ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ A u g . 1 4 10 @ 91$ = 910$ 10 @ 106$ = 1 , 0 6 0$ 530$ A u g . 1 7 20 @ 115$ = 2 , 3 0 0$ 2 , 8 3 0$ A u g . 2 8 10 @ 119$ = 1 , 1 9 0$ 4 , 0 2 0$ A u g . 3 1 5 @ 106$ = 530$ 18 @ 115$ = 2 , 0 7 0$ 1 , 4 2 0$ FIFO Example Balance Sheet Inventory = $1,420 Ine Statement COGS = $4,570 2 @ 115$ = 230$ 10 @ 119$ = 1 , 1 9 0 E n d . I n v . 1 , 4 2 0$?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill LastIn, FirstOut Method (LIFO) Costs of Goods Sold Recent Costs Ending Inventory Oldest Costs ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill On August 14, TBC sold 20 bikes for $130 each. LIFO Example Continue D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ A u g . 1 4 15 @ 106$ = 1 , 5 9 0$ 5 @ 91$ = 455$ 455$ LIFO Example The Cost of Goods Sold for the August 14 sale is $2,045, leaving $455 and 5 units in inventory. Continue Let’s look at the entries for the Aug. 14 sale. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill LIFO Example G E N E R A L J O U R N A LD a t e A c c o u n t T i t l e s a n d E x p l a n a t i o n D e b i t C r e d i tA u g . 14 C a s h 2 , 6 0 0S a l e s 2 , 6 0 014 C o s t o f G o o d s S o l d 2 , 0 4 5I n v e n t o r y 2 , 0 4 5Retail Cost Continue A similar entry is made after each sale. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill LIFO Example Additional purchases were made on August 17 and August 28. On August 31, an additional 23 units were sold. Continue D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ A u g . 1 4 15 @ 106$ = 1 , 5 9 0$ 5 @ 91$ = 455$ 455$ A u g . 1 7 20 @ 115$ = 2 , 3 0 0$ 2 , 7 5 5$ A u g . 2 8 10 @ 119$ = 1 , 1 9 0$ 3 , 9 4 5$ ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill LIFO Example D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0 0$ A u g . 1 4 15 @ 106$ = 1 , 5 9 0$ 5 @ 91$ = 455$ 455$ A u g . 1 7 20 @ 115$ = 2 , 3 0 0$ 2 , 7 5 5$ A u g . 2 8 10 @ 119$ = 1 , 1 9 0$ 3 , 9 4 5$ A u g . 3 1 10 @ 119$ = 1 , 1 9 0$ 13 @ 115$ = 1 , 4 9 5$ 1 , 2 6 0$ Cost of Goods Sold for August 31 = $2,685 ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill D a t e P u r c h a s e s C o s t o f G o o d s S o l dI n v e n t o r y B a l a n c eA u g . 1 10 @ 91$ = 910$ 910$ A u g . 3 15 @ 106$ = 1 , 5 9 0$ 2 , 5 0。