复旦管院会计学2010考试试题概要1.docVIP

复旦大学管理学院 2010～Aloha Company uses a perpetual inventory system. It entered into the following calendar-year 2008 purchases and sales transactions. Date Activities Units Acquired at Cost Units Sold at Retail Jan.1 Beginning Inventory 700 units @ $55/unit Jan.10 Purchase 550 units @ $56/unit Feb.12 Purchase 220 units @ $57/unit Feb.15 Sales 900units @ $90/unit July .21 Purchase 270 units @ $58/unit Aug.5 Purchase 445 units @ $59/unit Aut.10 Sales 750 units @ $90/unit Total 2185 units 1650 units Required 1. Compute cost of goods available for sale and the number of units available for sale. 2. Compute the number of units in ending inventory. 3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (c) specific identification—units sold consist of 700 units from beginning inventory, 500 units from the January 10 purchase, 220 units from the February 13 purchase, 200 units from the July 21 purchase, and 30 units from the August 5 purchase, and (d) weighted average—round per unit costs to tenth of a cent and inventory balances to the dollar. 4. Compute gross profit earned by the company for each of the four costing methods in part 3. 5. If the company’s manager earns a bonus based on a percent of gross profit, which method of inventory costing will the manager likely prefer?  答案 Compute cost of goods available for sale and units available for sale Beginning inventory 700 units @ $55 = $ 38,500 Jan. 10 550 units @ $56 = 30,800 Feb. 13 220 units @ $57 = 12,540 July 21 270 units @ $58 = 15,660 Aug. 5 445 units @ $59 = 26,255 Units available 2,185 units Cost of goods available for sale $123,755 Units in ending inventory Units available (from part 1) 2,185 Less: Units sold (given) 1,650 Ending Inventory 535 3a. FIFO perpetual Date Goods Purchased Cost of Goods Sold Inventory Balance 1/1 700 @ $55 = $38,500 1/10 550 @ $56 = $30,800 700 @ $55 550 @ $56 2/13 2