PERPETUAL INVENTORY AND M&M'S
Directions: You are the owner of the M&M
candy store. Using the steps below, calculate the perpetual inventory
of your store. Next, take a physical inventory and note whether your
physical inventory is even, short, or over compared to the calculation
of the perpetual inventory.
Important: Do not eat your candy until
the activity is finished.
- Step 1: Calculate the perpetual inventory.
Beginning Inventory: $17.60 Purchases: $34.32
Amount sold: $22.88
Perpetual Inventory:_______________
- Step 2: Take your physical inventory
and complete the table
Category# (all M&M’s) = 10
Prices are as follows: Green = $1.50
Blue = $1.25
Red= $1.00
Orange = $0.75
Yellow= $0.50
Brown and all others= $0.25
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Item Description
(color) |
Price |
Quantity |
Extension |
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Total
Quantity |
Total $
Amount |
- Step 3: Compared to the perpetual
inventory, is your physical even, short, or over? By what amount?
__________________
Allison Dooley
William Fleming High School
Roanoke, Virginia
