Lewis Corporation. Case Solution

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Units Unit Cost Total Cost
From the Beginning Inventory 1840.00 20.00 36800.00
From the first purchase 600.00 20.25 12150.00
From the second purchase 380.00 21.00 7980.00
2820.00 56930.00
From the Second purchase 420.00 21.00 8820.00
From the third purchase 400.00 21.25 8500.00
From the second purchase 200.00 21.50 4300.00
1020.00 21.20 21620.00
Units Unit Cost Total Cost
From the Beginning Inventory 1020.00 21.20 21624.00
From the first purchase 700.00 21.50 15050.00
From the second purchase 700.00 21.50 15050.00
Inventory Statement for 2006, FIFO Method
Cost of Goods Sold
Cost of Goods Sold
Total / Cost of Goods Sold
Ending Inventory
Total / Ending Inventory
Inventory Statement for 2005, FIFO Method
From the third purchase 660.00 22.00 14520.00
3080.00 66244.00
From the third purchase 40.00 22.00 880.00
From the fourth purchase 1000.00 22.25 22250.00
1040.00 22.24 23130.00
Units Unit Cost Total Cost
From the Beginning Inventory 1040.00 22.24 23129.60
From the first purchase 1000.00 22.50 22500.00
From the second purchase 700.00 22.75 15925.00
From the third purchase 210.00 23.00 4830.00
2950.00 66384.60
From the third purchase 490.00 23.00 11270.00
From the fourth purchase 700.00 23.50 16450.00
1190.00 23.29 27720.00
Submited By;
Manish Parmar, Section: C
Roll # 2010PGP179
Inventory Statement for 2007, FIFO Method
Cost of Goods Sold
Total / Cost of Goods Sold
Ending Inventory
Total / Ending Inventory
Total / Cost of Goods Sold
Ending Inventory
Total / Ending Inventory
Units Unit Cost Total Cost
From the fourth purchase 200.00 21.50 4300.00
From the third purchase 400.00 21.25 8500.00
From the second purchase 800.00 21.00 16800.00
From the first purchase 600 20.25 12150.00
From the beginning inventory 820 20.00 16400.00
2820.00 58150.00
From the beginning inventory 1020.00 20.00 20400.00
1020.00 20.00 20400.00
Units Unit Cost Total Cost
From the fourth purchase 1000.00 22.25 22250.00
From the third purchase 700.00 22.00 15400.00
From the second purchase 700.00 21.50 15050.00
Inventory Statement for 2006, LIFO Method
Cost of Goods Sold
Cost of Goods Sold
Total / Cost of Goods Sold
Total / Ending Inventory
Ending Inventory
Inventory Statement for 2005, LIFO Method
From the first purchase 680.00 21.50 14620.00
3080.00 67320.00
From the first purchase 20.00 21.50 430.00
From the beginning inventory 1020.00 22.24 22684.80
1040.00 22.23 23114.80
Units Unit Cost Total Cost
From the fourth purchase 700.00 23.50 16450.00
From the third purchase 700.00 23.00 16100.00
From the second purchase 700.00 22.75 15925.00
From the first purchase 850.00 22.50 19125.00
2950.00 67600.00
Fromt the first purchase 150.00 22.50 3375.00
From the beginning inventory 1000.00 23.50 23500.00
1150.00 23.37 26875.00
Submited By;
Manish Parmar, Section: C
Roll # 2010PGP179
Total / Cost of Goods Sold
Total / Ending Inventory
Inventory Statement for 2007, LIFO Method
Cost of Goods Sold
Total / Cost of Goods Sold
Ending Inventory
Ending Inventory
Total / Ending Inventory
Units Avg Cost Total Cost
2820.00 20.46 57685.16
1020.00 20.46 20864.84
Units Avg Cost Total Cost
Cost of Goods Sold
Inventory Statement for 2005, Avg Method
Total / Ending Inventory
Inventory Statement for 2006, Avg Method
Cost of Goods Sold
Ending Inventory
Total / Cost of Goods Sold
3080.00 21.51 66249.30
1040.00 20.51 21330.40
Units Avg Cost Total Cost
2950.00 22.30 65773.17
1190.00 22.30 26537.00
Submited By;
Manish Parmar, Section: C
Roll # 2010PGP179
Total / Cost of Goods Sold
Inventory Statement for 2007, Avg Method
Cost of Goods Sold
Total / Cost of Goods Sold
Ending Inventory
Total / Ending Inventory
Ending Inventory
Total / Ending Inventory
FIFO LIFO Avg
2005 Total Total Total
Cost of goods sold 56930 58150 57685
Ending Inventory 21620 20400 20865
2006
Cost of goods sold 66244 67320 66249
Ending Inventory 23130 23115 21330
2007
Cost of goods sold 66385 67600...
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