Inventory Management: A Simple Example, Cheat Sheet of Cost Accounting

Answer key for Costing. Study hard.

Typology: Cheat Sheet

2020/2021

Uploaded on 04/27/2021

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Blue Walls Corporation
Date
1-Jan
5
6
8
15
18
22
25
Inventory, January
Purchases:
5
8
15
22
25
Raw Materials Available
Less: Issuance
6-Jan
18
Raw Materials Issued
Raw Materials Inventory
Inventory, January
Purchases:
5
Issuance, January 6
Inventory, January
Purchases:
5
8
Issuance, January 18
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Blue Walls Corporation Date 1-Jan 5 6 8 15 18 22 25 Inventory, January Purchases: 5 8 15 22 25 Raw Materials Available Less: Issuance 6-Jan 18 Raw Materials Issued Raw Materials Inventory Inventory, January Purchases: 5 Issuance, January 6 Inventory, January Purchases: 5 8 Issuance, January 18

Blue Walls Corporation Transaction Balance, 500 units at P Purchased 600 units at P Issued 600 units to Dept. 1 Purchased 1,100 units at P Purchased 400 units at P Issued 1,100 units to Dept. 2 Purchased 500 nits at P Purchased 400 units at 100 Units Unit Cost 500 65 600 75 1,100 95 400 400 500 500 400 400 3500 600 1, 1700 1800 500 65 100 75 600 0 0 500 75 600 95 1,