Scribd Logo
Upload

Welcome to Scribd!

  • 53 views

    Assignment 2 - LAB - Accounting

    Uploaded by

    Novi Dewi
    - The document provides inventory, purchase, and sales data for Forward Corporation for the month of April 2023. It asks to calculate the cost of goods sold (COGS) on April 30th using FIFO, average cost, and LIFO methods. - Under FIFO, COGS is calculated as $5,950. Under average cost, COGS is $6,133. Under LIFO, COGS is $6,325.

    Copyright:

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

    Assignment 2 - LAB - Accounting

    Uploaded by

    Novi Dewi
    53 views3 pages
    - The document provides inventory, purchase, and sales data for Forward Corporation for the month of April 2023. It asks to calculate the cost of goods sold (COGS) on April 30th using FIFO, average cost, and LIFO methods. - Under FIFO, COGS is calculated as $5,950. Under average cost, COGS is $6,133. Under LIFO, COGS is $6,325.

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    - The document provides inventory, purchase, and sales data for Forward Corporation for the month of April 2023. It asks to calculate the cost of goods sold (COGS) on April 30th using FIFO, average cost, and LIFO methods. - Under FIFO, COGS is calculated as $5,950. Under average cost, COGS is $6,133. Under LIFO, COGS is $6,325.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    53 views3 pages

    Assignment 2 - LAB - Accounting

    Uploaded by

    Novi Dewi
    - The document provides inventory, purchase, and sales data for Forward Corporation for the month of April 2023. It asks to calculate the cost of goods sold (COGS) on April 30th using FIFO, average cost, and LIFO methods. - Under FIFO, COGS is calculated as $5,950. Under average cost, COGS is $6,133. Under LIFO, COGS is $6,325.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    Anggota kelompok 4

    - Raissa Ghina Asta (2602059714)

    - Novianti Artika Dewi (2602060836)

    - Deni Soekarno Putra E (2602182423)

    ASSIGMENT (2) - LAB

    ENTREPRENEURIAL FINANCIAL ACCOUNTING

    LO2: Explain the concept and methods relating to inventories and accounts receivable.
    Forward Corporation adalah perusahaan yang memproduksi perangkat komputer. Berikut
    adalah data mengenai inventory, pembelian bahan baku, dan penjualan dari produk Forward
    Corporation di bulan April 2023:

    Inventory: April 1 300 units @ $5.00 $ 1,500


    Purchases: April 10 600 units @ $5.50 $ 3,300
    April 20 500 units @ $5.75 $ 2,875
    April 30 300 units @ $6.00 $ 1,800
    Sales April 15 600 units
    April 25 500 units

    Perhitungan inventory secara fisik di akhir bulan April 2023 menunjukkan bahwa jumlah
    persediaan ada sebanyak 600 units. Sistem yang digunakan oleh Forward Corporation adalah
    periodic inventory system.

    Berdasarkan keterangan data di atas maka hitunglah cost of goods sold (COGS)di tanggal 30
    April 2023 dengan menggunakan FIFO, average cost, dan LIFO.

    Date Explanation Units Unit Cost Total Cost


    April 1 B Inventory 300 $5.00 $1,500
    April 10 Purchases 600 $5.50 $3.300
    April 15 Sale 600
    April 20 Purchases 500 -300 $5.75 $2.875
    April 25 sale 500
    April 30 Purchases 300 $6.00 $1.800
    1.700 $9.475
    FIFO
    1. Menghitung ending inventory
    2. Cost of Goods Available diambil dari jumlah total cost
    Date Unit Unit cost Total cost
    April 20 300 $5.75 $1.725
    April 30 300 $6.00 $1.800
    Total 600 $3.525

    Cost of Goods Available = $9.475


    Ending Inventory = $3.525
    COGS =Cost of Goods Available for sale−Ending Inventory
    ¿ $ 9.475−$ 3.525
    ¿ $ 5.950
    AVERAGE COST
    Date Explanation Units Unit Cost Total Cost
    April 1 Inventory 300 $5.00 $1,500
    April 10 Purchases 600 $5.50 $3.300
    April 15 Sale 600
    April 20 Purchases 500 $5.75 $2.875
    April 25 sale 500
    April 30 Purchases 300 $6.00 $1.800
    1.700 $9.475

    Total cost
    1. Mencari Cost of average =
    Total units
    $ 9.475
    =
    $ 1.700
    = $ 5.57

    2. Mencari Less : Ending Inventory = $5.57 X 600 (unit ending inventory)


    = $3.342

    COGS = Cost of Goods Available for sale−Ending Inventory


    = $9.475 - $3.342
    = $6.133

    LIFO
    Dates Units Unit Cost Total Cost
    April 1 300 $5.00 $1.50
    April 10 300 $5.50 $1.650
    Total 600 $3.150

    Ending inventory ¿ $ 3.150


    COGS ¿ Cost of Goods Available for sale−Ending Inventory
    ¿ $ 9.475−$ 3.150
    ¿ $ 6.325

    You might also like