The company's stock of goods (not subject to VAT) on 1 November was 50 pieces at a price of 26.5 euros / piece. On November 15, 40 pieces were purchased at a price of 23.5 euros / piece, VAT 188 euros have been added to the cost of the goods, the total amount of the invoice is 1128 euros, the invoice was paid upon purchase. During November, 70 pieces of goods were sold at a price of 40 euros / piece, without receiving money on the basis of invoices. To solve the problem 1. Calculate the acquisition cost and profit of the goods sold using the FIFO method. 2. Make accounting entries / entries for a) purchase, b) sale and write-off of goods sold. 3. Provide an extract from the statement of financial position for current assets as well as equity.
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The company's stock of goods (not subject to VAT) on 1 November was 50 pieces at a price of 26.5 euros / piece. On November 15, 40 pieces were purchased at a price of 23.5 euros / piece, VAT 188 euros have been added to the cost of the goods, the total amount of the invoice is 1128 euros, the invoice was paid upon purchase. During November, 70 pieces of goods were sold at a price of 40 euros / piece, without receiving money on the basis of invoices. To solve the problem 1. Calculate the acquisition cost and profit of the goods sold using the FIFO method. 2. Make accounting entries / entries for a) purchase, b) sale and write-off of goods sold. 3. Provide an extract from the
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