Instructions: Metode FIFO Date Explanation Unit Cost Total Cost
Instructions: Metode FIFO Date Explanation Unit Cost Total Cost
Instructions: Metode FIFO Date Explanation Unit Cost Total Cost
NIM : 042111535018
PRODI : AKUNTANSI PSDKU BANYUWANGI
P6-7A The management of Tudor Ltd. asks your help in determining the comparative effects
of the FIFO and average-cost inventory cost fl ow methods. For 2017, the accounting records
provide the data shown below.
Inventory, January 1 (10,000 units) £ 35,000
Cost of 120,000 units purchased 501,000
Selling price of 105,000 units sold 695,000
Operating expenses 130,000
Units purchased consisted of 40,000 units at £4.00 on May 10; 60,000 units at £4.20 on
August 15; and 20,000 units at £4.45 on November 20. Income taxes are 28%.
Instructions
(a) Prepare comparative condensed income statements for 2017 under FIFO and averagecost.
(Show computations of ending inventory.)
Metode FIFO
Total
Date Explanation Unit Cost
Cost
01/01/201 Persediaan 35.00
7 awal 10.000 3,5 0
160.00
10/05/2017 Pembelian 40.000 4 0
252.00
15/08/2017 Pembelian 60.000 4,2 0
89.00
20/10/2017 Pembelian 20.000 4,45 0
130.00
Total 0 536.000
Jumlah Unit Persediaan akhir = Persediaan awal + Pembelian – Penjualan
= 10.000 + 120.000 – 105.000
= 25.000
Persediaan akhir : HPP : Total Cost – Persediaan akhir
1. 20.000 x 4,45 = 89.000 : 536.000 – 110.000
2. 5.000 x 4,2 = 21.000 + : 426.000
110.000
Metode Average
Total
Date Explanation Unit Cost
Cost
35.00
01/01/2017 Persediaan awal 10.000 3,5 0
160.00
10/05/2017 Pembelian 40.000 4 0
252.00
15/08/2017 Pembelian 60.000 4,2 0
89.00
20/10/2017 Pembelian 20.000 4,45 0
Total 130.000 536.000
Jumlah Unit Persediaan akhir = Persediaan awal + Pembelian – Penjualan
= 10.000 + 120.000 – 105.000
= 25.000
Persediaan akhir : 25.000 x 536.000 HPP : 536.000 – 103.077
130.000 : 432.923
: 103.077
Income Statements
Tudor Ltd.
Income Statements
FIFO AVERAGE
Sales Revenue 695.000 695.000
Beginning Inventory 35.000 35.000
Purchase 501.000 501.000
Cost of goods available for sale 536.000 536.000
Ending Inventory 110.000 103.077
Cost of goods sold 426.000 432.923
Gross profit 269.000 262.077
Operating expenses 130.000 130.000
Income before income taxes 139.000 132.077
Income tax expense (28%) 38.920 36.982
Net income 100.080 95.095
(b) Answer the following questions for management in the form of a business letter.
(1) Which inventory cost flow method produces the more meaningful inventory amount for
the statement of financial position? Why?
Jawab :
Metode aliran biaya FIFO menghasilkan persediaan yang paling berarti jumlah untuk laporan
keuangan. Karena menganggap persediaan dengan harga satuan dari pembelian terakhir
(2) Which inventory cost flow method is more likely to approximate the actual physical
flow of the goods? Why?
Jawab :
Metode FIFO paling mungkin untuk memperkirakan aliran fisik yang sebenarnya. Karena
barang yang terlama biasanya dijual terlebih dahulu untuk meminimalkan kerusakan.
(3) How much more cash will be available for management under average-cost than under
FIFO? Why?
Jawab :
Selisih gross profit FIFO dan average yaitu sebesar 6.923. Hal ini dikarenakan dalam
perhitungannya terdapat perbedaan dalam menghitung persediaan akhir. Dalam metode FIFO
menghitung persediaan akhir diperoleh dari pembelian terakhir. Sedangkan dalam metode
Average menghitungnya dengan cara jumlah barang persediaan akhir dikali dengan total
harga keseluruhan lalu dibagi total unit.