Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd
Upload
5K views

Perpetual Inventory Example

This document shows perpetual inventory worksheets using different costing methods - FIFO, LIFO, and average cost. It tracks purchases and sales of inventory over time, calculating the cost of goods sold and ending inventory balance under each method. The totals at the bottom prove the calculations by matching the beginning inventory, purchases, and cost of goods sold to the merchandise available.

Uploaded by

Steven Sanderson
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
5K views

Perpetual Inventory Example

This document shows perpetual inventory worksheets using different costing methods - FIFO, LIFO, and average cost. It tracks purchases and sales of inventory over time, calculating the cost of goods sold and ending inventory balance under each method. The totals at the bottom prove the calculations by matching the beginning inventory, purchases, and cost of goods sold to the merchandise available.

Uploaded by

Steven Sanderson
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
You are on page 1/ 3

Perpetual Inventory Worksheet - FIFO

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 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


A new average cost per unit must be computed after each new purchase
PURCHASES 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

You might also like