【正文】 es, Computers, Inc. determines that the 1,200 mouse pads on hand at yearend have an actual total cost of $6,400. Determine the cost of goods sold for the year. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill C o m p u te r s , I n c .M o u s e P a d I n v e n to r yD a te U n i ts $ / U n i t T o ta lB e g i n n i n g I n v e n to r y 1 , 0 0 0 5 . 2 5$ 5 , 2 5 0 . 0 0$ P u r c h a s e s :J a n . 3 300 5 . 3 0 1 , 5 9 0 . 0 0 J u n e 2 0 150 5 . 6 0 8 4 0 . 0 0 S e p t. 1 5 200 5 . 8 0 1 , 1 6 0 . 0 0 N o v . 2 9 150 5 . 9 0 8 8 5 . 0 0 G o o d s A v a i l a b l e fo r S a l e 1 , 8 0 0 9 , 7 2 5 . 0 0$ E n d i n g I n v e n to r y 1 , 2 0 0 6 , 4 0 0 . 0 0$ C o s t o f G o o d s S o l d 600 3 , 3 2 5 . 0 0$ Specific Identification Example Cost of Goods Sold $9,725 $6,400 = $3,325 ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill Now let’s move on to the averagecost valuation method. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill AverageCost Method The average cost is calculated at yearend as follows: Total Cost of Goods Available for Sale Total Number of Units Available for Sale ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill AverageCost Method Example C o m p u te r s , I n c .M o u s e P a d I n v e n to r yD a te U n i ts $ / U n i t T o ta lB e g i n n i n g I n v e n to r y 1 , 0 0 0 5 . 2 5$ 5 , 2 5 0 . 0 0$ P u r c h a s e s :J a n . 3 300 5 . 3 0 1 , 5 9 0 . 0 0 J u n e 2 0 150 5 . 6 0 8 4 0 . 0 0 S e p t. 1 5 200 5 . 8 0 1 , 1 6 0 . 0 0 N o v . 2 9 150 5 . 9 0 8 8 5 . 0 0 G o o d s A v a i l a b l e fo r S a l e 1 , 8 0 0 9 , 7 2 5 . 0 0$ E n d i n g I n v e n to r y 1 , 2 0 0 ?C o s t o f G o o d s S o l d 600 ?Avg. Cost $ = $9,725 ? 1,800 ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill AverageCost Method Example C o m p u te r s , I n c .M o u s e P a d I n v e n to r yD a te U n i ts $ / U n i t T o ta lB e g i n n i n g I n v e n to r y 1 , 0 0 0 5 . 2 5$ 5 , 2 5 0 . 0 0$ P u r c h a s e s :J a n . 3 300 5 . 3 0 1 , 5 9 0 . 0 0 J u n e 2 0 150 5 . 6 0 8 4 0 . 0 0 S e p t. 1 5 200 5 . 8 0 1 , 1 6 0 . 0 0 N o v . 2 9 150 5 . 9 0 8 8 5 . 0 0 G o o d s A v a i l a b l e fo r S a l e 1 , 8 0 0 9 , 7 2 5 . 0 0$ E n d i n g I n v e n to r y 1 , 2 0 0 6 , 4 8 3 . 0 0$ C o s t o f G o o d s S o l d 600 3 , 2 4 2 . 0 0$ Ending Inventory Avg. Cost $ ??1,200 = $6,483 Cost of Goods Sold Avg. Cost $ ??600 = $3,242 ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill FirstIn, FirstOut Method (FIFO) Costs of Goods Sold Oldest Costs Ending Inventory Recent Costs ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill C o m p u te r s , I n c .M o u s e P a d I n v e n to r yD a te U n i ts $ / U n i t T o ta lB e g i n n i n g I n v e n to r y 1 , 0 0 0 5 . 2 5$ 5 , 2 5 0 . 0 0$ P u r c h a s e s :J a n . 3 300 5 . 3 0 1 , 5 9 0 . 0 0 J u n e 2 0 150 5 . 6 0 8 4 0 . 0 0 S e p t. 1 5 200 5 . 8 0 1 , 1 6 0 . 0 0 N o v . 2 9 150 5 . 9 0 8 8 5 . 0 0 G o o d s A v a i l a b l e fo r S a l e 1 , 8 0 0 9 , 7 2 5 . 0 0$ E n d i n g I n v e n to r y 1 , 2 0 0 ?C o s t o f G o o d s S o l d 600 ?FIFO Example Remember: Start with the 11/29 purchase and then add other purchases until you reach the number of units in ending inventory. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill D a te B e g . I n v . Pu r c h a s e s En d . I n v .C o s t o f G o o d s So l dN o v . 2 9 1 5 0 @ $ 5 . 9 0 1 5 0 @ $ 5 . 9 0U n i ts 150FIFO Example Now, let’s plete the table. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill D a te B e g . I n v . Pu r c h a s e s En d . I n v .C o s t o f G o o d s So l d1 , 0 0 0 @ $ 5 . 2 5 6 0 0 @ $ 5 . 2 54 0 0 @ $ 5 . 2 5J a n . 3 3 0 0 @ $ 5 . 3 0 3 0 0 @ $ 5 . 3 0J u n e 2 0 1 5 0 @ $ 5 . 6 0 1 5 0 @ $ 5 . 6 0Se p t. 1 5 2 0 0 @ $ 5 . 8 0 2 0 0 @ $ 5 . 8 0N o v . 2 9 1 5 0 @ $ 5 . 9 0 1 5 0 @ $ 5 . 9 0U n i ts 1 , 2 0 0 600FIFO Example Now, we have allocated the cost to all 1,200 units in ending inventory. ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill D a te B e g . I n v . Pu r c h a s e s En d . I n v .C o s t o f G o o d s So l d1 , 0 0 0 @ $ 5 . 2 5 6 0 0 @ $ 5 . 2 54 0 0 @ $ 5 . 2 5J a n . 3 3 0 0 @ $ 5 . 3 0 3 0 0 @ $ 5 . 3 0J u n e 2 0 1 5 0 @ $ 5 . 6 0 1 5 0 @ $ 5 . 6 0Se p t. 1 5 2 0 0 @ $ 5 . 8 0 2 0 0 @ $ 5 . 8 0N o v . 2 9 1 5 0 @ $ 5 . 9 0 1 5 0 @ $ 5 . 9 0U n i ts 1 , 2 0 0 600C o s ts $ 6 , 5 7 5 $ 3 , 1 5 0C o s t o f G o o d s A v a i l a b l e fo r Sa l e $ 9 , 7 2 5FIFO Example ?The McGrawHill Companies, Inc., 1999 Irwin/McGrawHill ANY QUESTIONS BEFORE WE DISCUSS LIFO? ?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 C o m p u te r s , I n c .M o u s e P a d I n v e n to r yD a te U n i ts $ / U n i t T o ta lB e g i n n i n g I n v e n to r y 1 , 0 0 0 5 . 2 5$ 5 , 2 5 0 . 0 0$ P u r c h a s e s :J a n . 3 300 5 . 3 0 1 , 5 9 0 . 0 0 J u n e 2 0 150 5 . 6 0 8 4 0 . 0 0 S e p t. 1 5 200 5 . 8 0 1 , 1 6 0 . 0 0 N o v . 2 9 150 5 . 9 0 8 8 5 . 0 0 G o o d s A v a i l a b l e fo r S a l e 1 , 8 0 0 9 , 7 2 5 . 0 0$ E n d i n g I n v e n to r y 1 , 2 0 0 ?C o s t o f G o o d s S o l d 600 ?LIFO Example Remember: Start with beginning inventory and then