Case - Up-in-smoke Corporation PDF

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Case - Up-in-smoke Corporation...

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UP - IN - SMOKE Inventory ($) 47,438 O/B 19,500 1,755 28 21,283

Inventory (Units) 2875 O/B

#1001 Duty Freight T #1001

1300 #1001

1300 T #1001

27,805 #3004 Discounts 556 27,249 T #3004

1675 T #3004 1850 #3005

28,860 T #3005

1850 T #3005

27,852 35 3,342 31,229

#1002 Freight Duty T #1002

185,354 COGAFS

16.371

1675 #3004

28,860 #3005

29120 #2003 3494 Duty 34 Freight Discounts 874 Return 2,275 Return Duty 273 68 R. Discount 29,295 T #2003

$/Unit 16.500

16.268

15.600

1600 #2003

Return

125

1475 T #2003

19.861

1650 #1002

1650 T #1002 10,825 UAFS Sold/Shrinkage

4258 E/B

6,567

18.927

UP - IN - SMOKE SPECIFIC IDENTIFICATION ENDING INVENTORY: PURCHASE #1001 PURCHASE #3005 PURCHASE #2003 PURCHASE #1002 TOTAL ENDING INVENTORY

# OF UNITS 440 929 1239 1650 (ALL)

COST OF GOODS SOLD: (COGAFS - E/I)

107,821

DR Cost of Goods Sold Expense CR Inventory

107,821 107,821

COST OF STOLEN CIGARS AVERAGE UNIT COST: (COGAFS/UAFS)

17.123

ENDING INVENTORY IN UNITS: 2,608 (physically there) + 1,650 (in transit) 4258 UNITS SOLD/STOLEN UAFS - E/I IN UNITS 6567 NUMBER OF STOLEN CIGARS: UNITS SOLD/STOLEN - UNITS SOLD 47 COST OF STOLEN CIGARS AVERAGE UNIT COST * # STOLEN 805

UNIT PRICE PORTION OF E/I 16.371 7203.328 15.600 14492.40 19.861 24607.77 18.927 31,229 77,533

Up-In-Smoke Corporation Purchase #1001 Dr Inventory Cr Cash

21,283

Purchase #3004 Dr Inventory Cr Cash

27,249

Purchase #3005 Dr Inventory Cr Cash

28,860

Purchase #2003 Dr Inventory Cr Cash

29,295

Purchase #1002 Dr Inventory Cr Accounts Payable

31,229

21,283

27,249

28,860

29,295

31,229...