Question:10

Mattel Bhd.

Pool of cost:Cost of goods available for sale:

Inventory: Units Cost/unit Total cost

Beginning 1 FEB Purchases: 15FEB 17 FEB 25 FEB

2000 2000 500 1000

RM 2.30 RM 2.50 RM 2.70 RM 2.40

RM4600 RM5000 RM1350 RM2400

Total 5500 RM13350

.: Unit of inventory= 5500-4750 = 780 unit

Periodic Inventory System.

Cost Flow Assumption:FIFO

Step 1:Total of Ending Inventory

Date Unit Cost/unit Total Cost

FEB 25 780 RM 2.40 1872

Total 780 RM1872

Cost Flow Assumption:LIFO

Step 1:Total of Ending Inventory

Date Unit Cost/unit Total cost

FEB 1 780 RM 2.30 RM1794

Total 780 RM1794

Step 2:COGS

Cost of good available for sale RM 13350

Less:Total ending inventory RM(17940)

Cost of goods sold RM 11556

Cost Flow Assumption:AVCO

Weighted average Unit Cost=RM13350 /5506 =RM 2.43

Step 1:Total of Ending Inventor

Unit Cost/unit Total Cost

780 RM 2.43 RM1895.40

Step 2:COGS

Cost of good available for sale RM 13350

Less:Total ending inventory RM 1895.40

Cost of goods sold RM 11454.60

Perpetual Inventory System.

Cost Flow Assumption:FIFO (TABLE)

STORE LEDGER CARD

Date Receipts/Purchases Issuance/sales Stock Balance

Unit Price/

Unit

Amount

RM

Unit Price/

unit

Amount

RM

Unit Price/

unit

Amount

RM

a)Total of ending inventory=RM

b)Cost of goods sold=RM_______-RM_______=RM________

Cost Flow Assumption:LIFO (TABLE)

STORE LEDGER CARD

Date Receipts/Purchases Issuance/sales Stock Balance

Unit Price/

Unit

Amount

RM

Unit Price/

unit

Amount

RM

Unit Price/

unit

Amount

RM

a)Total of ending inventory=RM_______

b)Cost of goods sold=RM_______-RM_________=RM___________

Cost Flow Assumption:AVCO (TABLE)

STORE LEDGER CARD

Date Receipts/Purchases Issuance/sales Stock Balance

Unit Price/

Unit

Amount

RM

Unit Price/

unit

Amount

RM

Unit Price/

unit

Amount

RM

a)Total of ending inventory=RM_____

b)Cost of goods Sold:RM_________-RM_________=RM________