中级财务会计英文版.课后答案(Chap03)

Exercise 3-13

Cost of goods available for sale:

Beginning inventory (2,000 x \$6.10)\$12,200 Purchases:

10,000 x \$5.50 \$55,000

6,000 x \$5.00 30,000 85,000 Cost of goods available (18,000 units)\$97,200 First-in, first-out (FIFO)

Last-in, first-out (LIFO)

Exercise 3-13 (concluded)

Average cost

*

Exercise 3-14

First-in, first-out (FIFO)

22,000

1 Last-in, first-out (LIFO)

Exercise 3-14 (concluded)

(Note: the perpetual inventory LIFO results in this exercise are the same as periodic LIFO results, due to the timing of sales and purchases. The same LIFO layers are on hand at the end of the period under each method. This is unusual. LIFO perpetual and LIFO periodic normally produce different results for ending inventory and cost of goods sold.) Average cost

Exercise 3-15

Requirement 1

LIFO will result in the highest cost of goods sold figure because both the cost of merchandise and the quantity of merchandise rose during the period. FIFO will result in the highest ending inventory balance for the same reasons.

Requirement 2

Cost of goods available for sale:

Beginning inventory (600 x \$80)\$ 48,000

Purchases:

1,000 x \$ 95 \$95,000

800 x \$100 80,000 175,000 Cost of goods available (2,400 units)\$223,000

First-in, first-out (FIFO)

Last-in, first-out (LIFO)