Specific Identification

Date Activity Units Acquired at Cost

7-Dec Purchases 10 units @ $ 6 = $ 60

14-Dec Purchases 20 units @ $ 12 = $240
15-Dec Sales
21-Dec Purchases 15 units @ $ 14 = $ 210

31-Dec Totals 45 units $510

Purchases

7-Dec Merchandise Inventory 60 15-Dec Accounts Receivable

Accounts Payable 60 Sales
14-Dec Merchandise Inventory 240 15-Dec Cost of Goods Sold
Accounts Payble 240 Merchandise In
21-Dec Merchandise Inventory 210
Accounts Payable 210

FIFO
Activity Units Aquired at Cost

7-Dec Purchases 10 units @ $ 6 = $ 60

14-Dec Purchases 20 units @ $ 12 = $240

15-Dec Sales

21-Dec Purchases 15 units @ $14 = $ 210

LIFO
Activity Units Aquired at Cost

7-Dec Purchases 10 units @ $ 6 = $ 60

14-Dec Purchases 20 units @ $ 12 = $240

15-Dec Sales
21-Dec Purchases 15 units @ $14 = $ 210

Weighted Average
Activity Units Aquired at Cost

7-Dec Purchases 10 units @ $ 6 = $ 60

14-Dec Purchases 20 units @ $ 12 = $240

15-Dec Sales

21-Dec Purchases 15 units @ $14 = $ 210

 Units Sold at Retail Unit Inventory

10 units
30 units
15 units @ $25 25 units
40 units

15 units

Sales

Accounts Receivable 375

Sales 375
Cost of Goods Sold 132
Merchandise Inventory 132

Units Sold At Retail Unit Inventory and Cost

10 units @ $6 = $60
20 units @ $12 = $240
$300 Total

15 units @ $25 15 units @ $12 = $180

$180 Total
15 units @ $12 = $180
15 units @ $14 = $210
$390 Total

Units Sold At Retail Unit Inventory and Cost

10 units @ $6 = $60
20 units @ $12 = $240
$300 Total

15 units @ $25 10 units @ $6 = $60

5 units @ $12 = $60
$120 Total
 10 units @ $6 = $60
5 units @ $12 = $60
15 units @ $14 = $210
$330 Total

Average
Units Sold At Retail Unit Inventory and Cost

10 units @ $6 = $300 Total

20 units @ $12 =
(avg. cost is $10)

15 units @ $25 15 units @ $10 = $150 Total

15 units @ $10 = $150

15 units @ $14 = 210
Total $360
(avg. cost is $12)
 Specific Identification
Date Activity Units Aquired at Cost

1-Jan Beginning Inventory 120 units @ $6.00 = $720

10-Jan Sales

7-Mar Purchases 200 units @ $5.50 = $1,110

15-Mar Sales

28-Jul Purchases 500 units @ $5.00 = $2,500

3-Oct Purchases 375 units @ $4.40 = $1,650

5-Oct Sales

19-Dec Purchases 100 units @ $4.10 = $410

Ending Inventory

FIFO
Date Activity Units Aquired at Cost

1-Jan Beginning Inventory 120 units @ $6.00 = $720

10-Jan Sales

7-Mar Purchases 200 units @ $5.50 = $1,110

15-Mar Sales

28-Jul Purchases 500 units @ $5.00 = $2,500

 3-Oct Purchases 375 units @ $4.40 = $1,650

5-Oct Sales

19-Dec Purchases 100 units @ $4.10 = $410

LIFO
Date Activity Units Aquired at Cost

1-Jan Beginning Inventory 120 units @ $6.00 = $720

10-Jan Sales

7-Mar Purchases 200 units @ $5.50 = $1,110

15-Mar Sales

28-Jul Purchases 500 units @ $5.00 = $2,500

3-Oct Purchases 375 units @ $4.40 = $1,650

5-Oct Sales
 19-Dec Purchases 100 units @ $4.10 = $410

Weighted Average
Date Activity Units Aquired at Cost

1-Jan Beginning Inventory 120 units @ $6.00 = $720

10-Jan Sales

7-Mar Purchases 200 units @ $5.50 = $1,110

15-Mar Sales

28-Jul Purchases 500 units @ $5.00 = $2,500

3-Oct Purchases 375 units @ $4.40 = $1,650

5-Oct Sales

19-Dec Purchases 100 units @ $4.10 = $410

dentification
Units Sold At Retail Unit Inventory and Cost

120 units @ $6.00 = $720

70 units @ $15 50 units @ $6.00 = $300

50 units @ $6.00 = $300

200 units @ $5.50 =$1,110
Total $1,410

125 units @ $15 125 units @ $5.50 = $687.50

Total $687.50

125 units @ $5.50 = $687.50

500 units @ $5.00 = $2,500
Total $3187.50

125 units @ $5.50 = $687.50

500 units @ $5.00 = $2,500
375 units @ $4.40 = $1,650
Total $4,837.50

600 units @ $15 400 units @ $5.00 = $2,000

Total $2,000

400 units @ $5.00 = $2,000

100 units @ $4.10 = $410
Total $2,410

Units Sold At Retail Unit Inventory and Cost

120 units @ $6.00 = $720

Total $720

70 units @ $15 50 units @ $6.00 = $300

Total $300

50 units @ $6.00 = $300

200 units @ $5.50 = $1,110
Total $1,410

125 units @ $15 125 units @ $5.50 = $687.50

Total $687.50

125 units @ $5.50 = $687.50

 500 units @ $5.00 = $2,500
Total $3187.50

125 units @ $5.50 = $687.50

500 units @ $5.00 = $2,500
375 units @ $4.40 = $1,650
Total $4,837.50

600 units @ $15 25 units @ $5.00 = $125

375 units @ $4.40 = $1,650
Total $1,775

25 units @ $5.00 = $125

375 units @ $4.40 = $1,650
100 units @ $4.10 = $410
Total $2,185

Units Sold At Retail Unit Inventory and Cost

120 units @ $6.00 = $720

Total $720

70 units @ $15 50 units @ $6.00 = $300

Total $300

50 units @ $6.00 = $300

200 units @ $5.50 = $1,110
Total $1,410

125 units @ $15 50 units @ $6.00 = $300

75 units @ $5.50 = $412.5
Total $712.50

50 units @ $6.00 = $300

75 units @ $5.50 = $412.5
500 units @ $5.00 = $2,500
Total $3,212.50

50 units @ $6.00 = $300

75 units @ $5.50 = $412.5
500 units @ $5.00 = $2,500
375 units @ $4.40 = $1,650
Total $4,862.5

600 units @ $15 50 units @ $6.00 = $300

75 units @ $5.50 = $412.5
 275 units @ $5.00 = $1,375
Total $2,087.5

50 units @ $6.00 = $300

75 units @ $5.50 = $412.5
275 units @ $5.00 = $1,375
100 units @ $4.10 = $410
Total $2,497.50
(Rounded to the nearest dollar $2,498)

Average
Units Sold At Retail Unit Inventory and Cost

120 units @ $6.00 = $720

Total $720

70 units @ $15 50 units @ $6.00 = $300

Total $300

50 units @ $6.00 = $300

200 units @ $5.50 = $1,110
Total $ 1,410 avg. $5.64 unit

125 units @ $15 125 units @ $5.64 = $705

Total $705

125 units @ $5.64 = $705

500 units @ $5.00 = $2,500
Total $3205 avg. $5.13

625 units @ $5.13 = $3,206.25

375 units @ $4.40 = $1,650
Total $4,856.25 avg. $4.85

600 units @ $15 400 units @ $4.85 = $1,940

Total $1,940

400 units @ $4.85 = $1,940

100 units @ $4.10 = $410
Total $2,350
 Per Unit Total Total LCM APPLIED TO:
Inventory Items Units Cost Market Cost Market Items
Helmets $22 $50 $54 $1,100 $1,188 $1,100
Bats 15 78 72 $1,170 $1,080 $1,080
Shoes 36 95 91 $3,420 $3,276 $3,276
40 36 36 $1,440 $1,440
Uniforms $1,440
Total $7,130 $6,984 $6,896
LCM APPLIED TO:
Whole

$7,130