Copy Of Perpetual Inventory Example

Perpetual Inventory Worksheet - FIFO PURCHASES UNIT DATE QTY. COST 1-Jan 2-Jan 10 180

TOTAL COST 1800

5-Jan 12-Jan

3 3 8

190

6

200

510 540

7 2

180 190

1260 380

6 2

190 200

1140 400

1200

31-Jan

Totals

170 180

1520

18-Jan 24-Jan

COST OF M'DSE SOLD UNIT TOTAL QTY. COST COST

$4,520

Cost of Goods Purchased Cost of Goods Sold Cost of Goods in Ending Inventory Quantity of Goods in Inventory

INVENTORY BALANCE UNIT TOTAL QTY. COST COST 3 170 510 3 170 510 10 180 1,800

2,310

7 7 8

180 180 190

1,260 1,260 1,520

1,260

6 6 6

190 190 200

1,140 1,140 1,200

1,140

4

200

800

$4,230 $4,520 $4,230 $800 4

510

Proof: Beginning Inventory + purchases = M'dse. Available - Ending Inventory = Cost of M'dse. Sold

Perpetual Inventory Worksheet - LIFO

2,780

2,340 800

800

$510 4,520 5,030 800 4,230

PURCHASES UNIT DATE QTY. COST 1-Jan 2-Jan 10 180

TOTAL COST 1800

5-Jan 12-Jan

6 8

190

6

200

1080

8 1

190 180

1520 180

6 2

200 180

1200 360

1200

31-Jan

Totals

180

1520

18-Jan 24-Jan

COST OF M'DSE SOLD UNIT TOTAL QTY. COST COST

$4,520

Cost of Goods Purchased Cost of Goods Sold Cost of Goods in Ending Inventory Quantity of Goods in Inventory

INVENTORY BALANCE UNIT TOTAL QTY. COST COST 3 170 510 3 170 510 10 180 1,800 3 170 510 4 180 720 3 170 510 4 180 720 8 190 1,520 3 170 510 3 180 540 3 170 510 3 180 540 6 200 1,200 3 170 510 1 180 180

$4,340 $4,520 $4,340 $690 4

Proof: Beginning Inventory + purchases = M'dse. Available - Ending Inventory = Cost of M'dse. Sold

2,310 1,230

2,750 1,050

2,250 690

690

$510 4,520 5,030 690 4,340

Perpetual Inventory Worksheet - AVG. COST A new average cost per unit must be computed after each new purchase

510

PURCHASES UNIT DATE QTY. COST 1-Jan 2-Jan 10 180

TOTAL COST

COST OF M'DSE SOLD UNIT TOTAL QTY. COST COST

1800

INVENTORY BALANCE avg unit TOTAL QTY. COST COST 3 170.00 510.00 13 177.69 2,310.00

510.00 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

6

184.26

1,105.54

2,763.85 18-Jan

9

184.26

1,658.31

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

Cost of Goods Purchased Cost of Goods Sold Cost of Goods in Ending Inventory Quantity of Goods in Inventory

$4,261.49 $4,520.00 $4,261.49 $768.51 $4.00

Proof: Beginning Inventory + purchases = M'dse. Available - Ending Inventory = Cost of M'dse. Sold

768.51

$510.00 $4,520.00 $5,030.00 $768.51 $4,261.49