Discussion Assignment 4
mcyrayvahgr
InventoryCalculation.pdf
INVENTORY CALCULATION
Using the same scenario, you will calculate the inventory using FIFO, LIFO and Weighted Average.
On February 1, Zimmer Products had 320 units in inventory valued at $6 per unit. Zimmer purchased the following units during February: 2/13/10 - 85 units at $6.20 2/22/10 - 110 units at $6.50. On 2/27, Zimmer sold 360 units at $6 per unit.
Cost of Goods Sold and inventory using the First In Last Out method
Date Purchase Amount
Purchase Price
Cost of Goods Sold
Amount
Cost of Goods Sold Price
Cost of Goods Sold Total Value
Inventory Amount
Inventory Item Value
Inventory Total Value
February 1 320 $6.00 $1920.00
February 13
85 $6.20 320 $6.00
85 $6.20 $2447.00
February 22
110 $6.50 320 $6.00
85 $6.20
110 $6.50 $3162.00
February 27
320 $6.00 45 $6.20
40 $6.20 110 $6.50
Total: 360 Total Value: $2168.00
$994.00
Cost of Goods Sold and inventory using the Last In Last Out method
Date Purchase Amount
Purchase Price
Cost of Goods Sold
Amount
Cost of Goods Sold Price
Cost of Goods Sold Total Value
Inventory Amount
Inventory Item Value
Inventory Total Value
Page 1 of 3Transcript
4/30/2018http://media.capella.edu/CourseMedia/bus3060/inventoryCalculation/inventoryCalculation...
Date Purchase Amount
Purchase Price
Cost of Goods Sold
Amount
Cost of Goods Sold Price
Cost of Goods Sold Total Value
Inventory Amount
Inventory Item Value
Inventory Total Value
February 1 320 $6.00 $1920.00
February 13
85 $6.20 320 $6.00
85 $6.20 $2447.00
February 22
110 $6.50 320 $6.00
85 $6.20
110 $6.50 $3162.00
February 27
110 $6.50
85 $6.20
165 $6.00 155 $6.00
Total: 360 Total Value: $2232.00
$930.00
Cost of Goods Sold and inventory using the Weighted Average method
Date Purchase Amount
Purchase Price
Cost of Goods Sold
Amount
Cost of
Goods Sold Price
Cost of Goods
Average Cost
Inventory Amount
Inventory Item Value
Inventory Total Value
Average Item Cost
February 1
320 $6.00 $1920.00
February 13
85 $6.20 320 $6.00
85 $6.20
405 $2447.00 $6.04
February 22
110 $6.50 320 $6.00
85 $6.20
110 $6.50
515 $3162.00 $6.14
Page 2 of 3Transcript
4/30/2018http://media.capella.edu/CourseMedia/bus3060/inventoryCalculation/inventoryCalculation...
Date Purchase Amount
Purchase Price
Cost of Goods Sold
Amount
Cost of
Goods Sold Price
Cost of Goods
Average Cost
Inventory Amount
Inventory Item Value
Inventory Total Value
Average Item Cost
February 27
360 $6.14 155 $6.14 $952.00
Total:360 $2210.33
CREDITS Subject Matter Expert: Interactive Design:
Instructional Design:
Project Manager:
Barbara Basl
Christopher Schons
JodiRae Foss
Lon Wiessenberger
L i c e n s e d u n d e r a C r e a t i v e C o m m o n s A t t r i b u t i o n 3 . 0 L i c e n s e .
Page 3 of 3Transcript
4/30/2018http://media.capella.edu/CourseMedia/bus3060/inventoryCalculation/inventoryCalculation...
