Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 85 views

    Inventory Formula Excel Template

    Uploaded by

    Mustafa Ricky Pramana Se
    The document provides an example of calculating ending inventory using different methods. It gives the beginning inventory, purchases, and cost of goods sold for Company A to calculate ending inventory of $30,000. For Company XYZ, it provides beginning inventory, two purchase amounts, units sold, and calculations of ending inventory using FIFO, LIFO, and weighted average methods. Under FIFO, the ending inventory is $70; under LIFO it is $50; and under weighted average it is $58.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Inventory Formula Excel Template

    Uploaded by

    Mustafa Ricky Pramana Se
    85 views4 pages
    The document provides an example of calculating ending inventory using different methods. It gives the beginning inventory, purchases, and cost of goods sold for Company A to calculate ending inventory of $30,000. For Company XYZ, it provides beginning inventory, two purchase amounts, units sold, and calculations of ending inventory using FIFO, LIFO, and weighted average methods. Under FIFO, the ending inventory is $70; under LIFO it is $50; and under weighted average it is $58.

    Copyright

    © © All Rights Reserved

    Available Formats

    XLSX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document provides an example of calculating ending inventory using different methods. It gives the beginning inventory, purchases, and cost of goods sold for Company A to calculate ending inventory of $30,000. For Company XYZ, it provides beginning inventory, two purchase amounts, units sold, and calculations of ending inventory using FIFO, LIFO, and weighted average methods. Under FIFO, the ending inventory is $70; under LIFO it is $50; and under weighted average it is $58.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    85 views4 pages

    Inventory Formula Excel Template

    Uploaded by

    Mustafa Ricky Pramana Se
    The document provides an example of calculating ending inventory using different methods. It gives the beginning inventory, purchases, and cost of goods sold for Company A to calculate ending inventory of $30,000. For Company XYZ, it provides beginning inventory, two purchase amounts, units sold, and calculations of ending inventory using FIFO, LIFO, and weighted average methods. Under FIFO, the ending inventory is $70; under LIFO it is $50; and under weighted average it is $58.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Inventory Excel Template

    Visit: www.educba.com
    Email: info@educba.com
    Let say company A has an opening inventory balance of $50,000 for the month of July.
    During the remaining financial year, the company has made purchases amounting $20,000
    and during that time, on the company’s income statement, the cost of goods sold is $40,000.

    Particulars Amounts
    Beginning Inventory 50,000
    Inventory Purchases 20,000
    Cost of Goods Sold 40,000

    Ending Inventory is calculated using the formula given below


    Ending Inventory = Beginning Inventory + Inventory Purchases – Cost of Goods Sold

    Ending Inventory 30,000


    Now let see another example to find ending inventory using FIFO, LIFO and Weighted average method.
    Let say a company XYZ has beginning inventory of 10 unit with a unit price of $10 per unit. The market
    environment is inflationary which means that prices of the unit are increasing in the market.
    Company has made a few purchases in month 1 and 2 in this inflationary environment.

    Particulars Units Price Per Units Total Value


    Beginning Inventory 10 $10.00 $100.00
    Purchases in Month 1 4 $12.00 $48.00
    Purchases in Month 2 6 $14.00 $84.00
    Total Inventory 20 $232.00

    Let say that company has sold 15 units and they are left with only 5 units of inventory
    Units Solds 15

    FIFO Method

    First 10 Unit will be sold at $10 per Unit $100.00


    Next 4 Units will be sold at $12 per Unit $48.00
    Next 1 Units will be sold at $14 per Unit $14.00
    Total Sold Inventory $162.00

    Ending Inventory is calculated using the formula given below


    Ending Inventory = Total Inventory - Total Sold Inventory

    Ending Inventory $70.00

    LIFO Method

    First 6 Units will be sold at $14 per Unit $84.00


    Next 4 Units will be sold at $12 per Unit $48.00
    Next 5 Units will be sold at $15 per Unit $50.00
    Total Sold Inventory $182.00

    Ending Inventory is calculated using the formula given below


    Ending Inventory = Total Inventory - Total Sold Inventory

    Ending Inventory $50.00

    Weighted Average Cost Method

    Average Cost is calculated using the formula given below


    Average Cost = Total Value of Inventory / Total Number of Units

    Average Cost $11.60


    Total Sold Inventory is calculated using the formula given below
    Total Sold Inventory = Average Cost * Units Sold

    Total Sold Inventory $174.00

    Ending Inventory is calculated using the formula given below


    Ending Inventory = Total Inventory - Total Sold Inventory

    Ending Inventory $58.00

    You might also like