a

 


Problem 1. Inventory (Weight 30%)

 

PT. Kong Kuan sells various types of carpets originating from India. The best-selling carpet is the Chaiya type so that there are quite a lot of transactions in a month. The following are transactions related to Chaiyo carpets at PT. Kong Kuan during January 2012:

 

Date

Tr a n s actions

Un i ts

Price / u n i t

To t a l

1 Januari

Balance

200

500.000

100.000.000

3 Januari

Sell

30

700.000

  21.000.000

7 Januari

Buy

100

520.000

  52.000.000

12 Januari

Sell

60

750.000

  45.000.000

15 Januari

Sell

40

750.000

  30.000.000

20 Januari

Buy

150

510.000

  76.500.000

21 Januari

Sell

120

750.000

   90.000.000

24 Januari

Sell

80

760.000

   60.800.000

26 Januari

Buy

200

530.000

106.000.000

29 Januari

Sell

50

740.000

   37.000.000

30 Januari

Sell

60

720.000

   43.200.000

 

 

PT Kong Kuan uses the perpetual system and the FIFO method for its inventories. However, at the end of each month, PT Kong Kuan still performs a physical count of inventory as an internal control.

 

Required: (include your calculations).

 

1.    Compute the COGS and the ending value of PT Kong Kuan's inventory for January 2012 prior to the physical count.

2.    Calculate the COGS and the ending value of PT Kong Kuan's inventory for January 2012 after the physical count, if based on the physical count the total inventory at the end of January is 205 units.


Physical count means PERIODIC SYSTEM btw

 

 

 

Komentar

Posting Komentar

Postingan populer dari blog ini

3

 Do the following questions below correctly, and carefully! III. STATEMENT OF CASH FLOW (30%) The following information is presented below in the Comparative Financial Position Report of PT Mayora Indah Tbk for the 2017 and 2018 periods: PT. Mayora Indah Tbk. Statement of Comparative Financial Position 2018 And 2017 Period Account Name Year 2018 Year 2017 Aset     Cash Rp              181.600 Rp                96.800 Accounts Receivable Rp              185.600 Rp                66.000 Supplies Rp          ...
Baca selengkapnya

2

 Do the following questions below correctly, and carefully! II. INVESTMENT (35%) As of December 31, 2017, PT Pyridam Farma Tbk has investments in ordinary shares which are categorized as long-term investments as follows: Common Stock Investment Number of Ordinary Shares Outstanding Total Cost PT. Indofarma Tbk. 2,000 shares of ordinary shares Rp   70.000.000 PT. Kalbe Farma Tbk. 5,000 shares of ordinary shares Rp 100.000.000 PT. Kimia Farma Tbk. 1,000 shares of ordinary shares Rp   85.000.000 On that date, the fair value or market value of all common shares is equal to cost. The company does not have significant influence over the investee. Transactions that occurred during 2018 are as follows: 1. On June 1 2018 that a cash dividend was received from PT Kalbe Farma Tbk in the amount of Rp 1,000 per share of common stock. 2. On July 1 2018 ...
Baca selengkapnya

Consignment Number 2

 2. Journalize the months of January, February, March required for the following consignment activities, (Consignment profit is determined independently and not independently) On January 6, the consignor sent 150 units of merchandise worth Rp. 200,000,- / unit with the transportation costs borne by the consignor amounting to Rp. 1,000,000.- January 15-25 (during January) consignee sells 100 units February 1 – 28 (during January) consignee sells 25 units Terms: • Consigned goods are sold at a price of Rp. 400,000, -/unit which is paid in the month of purchase at 50% of the selling price and the rest is paid in the following month. • Commission is 5% of billing. • Consignment delivery costs borne by the consignor are Rp. 1,000,000
Baca selengkapnya