Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   Comparative Condensed Income Statement (https://www.askmehelpdesk.com/showthread.php?t=737188)

  • Mar 3, 2013, 12:44 PM
    ScGirl2011
    Comparative Condensed Income Statement
    I need to know how to do this! Teacher won't help, book is useless. Please?

    Howland preparing Comparative Condensed Income statement using FIFO & LIFO.

    Inventory
    -Beginning (10,000 Units) $22,500
    -Ending (20,000 units)

    Purchases
    -Total Net sales (220,000 units) $862,000
    -Total Cost of goods Purchased (230,000 units) 567,500

    Quarter--Units---Unit Cost---Total Cost--
    1----------60,000----2.30------138,000
    2---------50,000-----2.40------120,000
    3--------50,000------2.55------127,500
    4-------70,000------2.60-------182,000
    _________________________________
    ------230,000-----------------567,500

  • All times are GMT -7. The time now is 08:38 AM.