Chapter 18

Chapter 18

1. Cost of Goods Sold

   • Cost of Goods Available for Sale - Cost of Ending Inventory

2. Weighted Average Method

   • Step 1
     • Step 2
       • Step 3
         • Calculate the Cost of Goods Sold
       • Calculate the Cost of the Ending Inventory
     • Calculate the Average Unit Cost

3. FiFO

   • Step 1
     • Step 2
       • Step 3
         • Calculate the Cost of Goods Sold
       • Calculate the Cost of the Ending Inventory
     • List the Units to be Included in the Ending Inventory & their Cost

4. LIFO

   • Step 1
     • Step 2
       • Step 3
         • Calculate the Cost of Goods Sold
       • Calculate the Cost of Ending Inventory
     • List the Units to be Included in the Ending Inventory & their Cost

5. Retail Method

6. Gross Profit Method

7. Distribution of Overhead

8. Inventory Turnover

Images and files in the map