A140/ACG1022 Section 14 Financial Accounting I – Winter 2013 Module 8

assignment_mod_08_new.xlsx

Review the transactions and financial position of Cascade Inc. for the month of September in the 

Excel Template

.

Requirements:

1. Prepare a perpetual inventory record using FIFO.
2. Prepare a perpetual inventory record using LIFO.
3. Prepare a perpetual inventory record using average cost.

2

>M8 Assignment

-Sep

-Sep

Purchase

0

Sale 22

1

Date Quantity Unit Cost

Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost

2

Purchases Cost of Goods Sold Inventory on Hand
Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost

3

Purchases Cost of Goods Sold Inventory on Hand
Date Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost Quantity Unit Cost Total Cost

Module 8 Assignment:

Cascade Inc. completed the following inventory transactions during the month of September:

Date

Item

Quantity

Unit Cost

1

Balance

25

$80

4-Sep

Purchase

40

$78

12-Sep

Sale

52

22

3

$77

30-Sep

Requirements:

Prepare a perpetual inventory record using FIFO

Purchases

Cost of Goods Sold

Inventory on Hand

Total Cost

Prepare a perpetual inventory record using LIFO

Prepare a perpetual inventory record using average cost