Cost of Goods Sold $4,230 Beginning Inventory $510 Cost of Goods in Ending Inventory $800 + purchases 4,520 Quantity of Goods in Inventory 4 = M'dse. Available 5,030 - Ending Inventory 800 = Cost of M'dse. Sold 4,230
Cost of Goods Sold $4,340 Beginning Inventory $510 Cost of Goods in Ending Inventory $690 + purchases 4,520 Quantity of Goods in Inventory 4 = M'dse. Available 5,030 - Ending Inventory 690 = Cost of M'dse. Sold 4,340
Perpetual Inventory Worksheet - AVG. COST
A new average cost per unit must be computed after each new purchase PURCHASES COST OF M'DSE SOLD INVENTORY BALANCE UNIT TOTAL UNIT TOTAL avg unit TOTAL DATE QTY. COST COST QTY. COST COST QTY. COST COST 1-Jan 3 170.00 510.00 510.00 2-Jan 10 180 1800 13 177.69 2,310.00 2,310.00 5-Jan 6 177.69 1,066.15 7 177.69 1,243.85 1,243.85 12-Jan 8 190 1520 15 184.26 2,763.85 2,763.85 18-Jan 9 184.26 1,658.31 6 184.26 1,105.54 1,105.54 24-Jan 6 200 1200 12 192.13 2,305.54 2,305.54 31-Jan 8 192.13 1,537.03 4 192.13 768.51 768.51
Totals $4,520 $4,261.49 768.51
Cost of Goods Purchased $4,520.00 Proof:
Cost of Goods Sold $4,261.49 Beginning Inventory $510.00 Cost of Goods in Ending Inventory $768.51 + purchases $4,520.00 Quantity of Goods in Inventory $4.00 = M'dse. Available $5,030.00 - Ending Inventory $768.51 = Cost of M'dse. Sold $4,261.49