In: Accounting
Beijing Manufacturing Company uses perpetual inventory method.Below are the purchases and issues (sent to production) of direct material inventory during April 2020.
Date |
Transaction |
Unit |
Unit Cost ($) |
April 1 |
Beginning Inventory |
60 |
10 |
April 5 |
Purchased |
150 |
16 |
April 8 |
Issued |
90 |
-- |
April 10 |
Purchased |
220 |
20 |
April 14 |
Issued |
250 |
-- |
April 15 |
Purchased |
150 |
22 |
April 20 |
Issued |
180 |
-- |
April 28 |
Purchased |
70 |
25 |
April 30 |
Issued |
100 |
-- |
A) Prepare two INVENTORY CARDs for April,
B) What are the “COST OF DIRECT MATERIAL USED” and the “COST OF ENDING INVENTORY” figures under the both methods?
PURCHASES |
ISSUED |
BALANCE |
||||||||
Date |
Transaction |
Unit |
Unit Cost |
Total Cost |
Unit |
Unit Cost |
Total Cost |
Unit |
Unit Cost |
Total Cost |