Lewis Corporation. Case Solution

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... [continues]

Read full essay