Selbe Inc. is a retailer using the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory.

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Answer:

FIFO METHOD
Opeaning and Purchase Sales Closing
Date Unit Cost Total Unit Cost Total Unit Cost Total
31-Dec 164 24 3936 164 24 3936
2-Jan 93 23 2139 164 24 3936
93 23 2139
6-Jan 164 24 3936
17 23 391 76 23 1748
9-Jan -8 23 -184 84 23 1932
9-Jan 73 26 1898 84 23 1932
73 26 1898
10-Jan -23 26 -598 84 23 1932
50 26 1300
10-Jan 55 23 1265 29 23 667
50 26 1300
23-Jan 106 27 2862 29 23 667
50 26 1300
106 27 2862
30-Jan 29 23 667
50 26 1300
42 27 1134 64 27 1728
Total 413 10237 349 8509 64 1728

 

Particular Amount in $
Cost Og goods sold 8509
Ending Inventory 1728
Profit
Sales-COGS
16654-8509		 8145

 

 

Weighted Avg
Opeaning and Purchase Sales Closing
Date Unit Cost Total Unit Cost Total Unit Cost Total
31-Dec 164 24 3936 164 24 3936
2-Jan 93 23 2139 164 24 3936
93 23 2139
257 23.63813 6075
6-Jan 181 23.63813 4278.502
0 0 73 23.63813 1725.583
9-Jan -8 23.63813 -189.105 84 23.63813 1985.603
9-Jan 73 26 1898 84 23.63813 1985.603
73 26 1898
157 24.73632 3883.603
10-Jan -23 26 -598 84 23.63813 1985.603
50 26 1300
134 24.51942 3285.603
10-Jan 55 24.51942 1348.568 79 24.51942 1937.035
23-Jan 106 27 2862 79 24.51942 1937.035
106 27 2862
185 25.94073 4799.035
     
30-Jan 121 25.94073 3138.828
64 25.94073 1660.207
Total 413 10237 349 8576.793 64 1660.207

 

Particular Amount in $
Cost Og goods sold 8576.79286
Ending Inventory 1660.20655
Profit
Sales-COGS
16654-8576.79		 8077.21
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