4.1 Inventory Cost Flow Methods_solved.xlsx.xlsx

	B	C	D	E
1	Task 1
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3	Calculate Cogs and Inventory under the four cost flow methods.
4	The company sold two PCs on 10th of December and another two on the 22nd of December. The first two PCs it sold were purchased on the 1st of December, while the second two on the 8th of December.
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6	Product	Units purchased	Purchase date	Purchase Price ($)
7	PC	3	1-Dec	350
8	PC	4	8-Dec	400
9	PC	5	21-Dec	500
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12	Date	Units sold
13	10-Dec	2
14	22-Dec	2
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19	Accounting method	Cogs	Inventory
20	Specific Identification	1500	3650
21	FIFO	1450	3700
22	Weighted average cost	1636	3514
23	LIFO	1800	3350
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28	First average cost
29	as of 10 dec (2 units)	757
30	Second average cost
31	as of 22 dec (2 units)	879
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