Question

Windsor Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.

Date		Transaction		Quantity		Price/Cost
1/1		Beginning inventory		1,800		$15
2/4		Purchase		2,800		22
2/20		Sale		3,300		37
4/2		Purchase		3,800		29
11/4		Sale		3,000		41

Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)

Average-cost per unit

:________

Compute Cost of Goods Sold:

	cost of goods sold
Periodic system, FIFO cost flow	$
Perpetual system, FIFO Cost flow	$
Periodic system, LIFO cost flow	$
Perpetual system, LIFO cost flow	$
Periodic system, Weighted Average cost flow	$
Perpetual system, Weighted Average cost flow	$

Answer 1

Average Cost per unit = $23.6667 per unit

Cost of goods sold
Periodic system, FIFO cost flow	$      137,900
Perpetual system, FIFO Cost flow	$      137,900
Periodic system, LIFO cost flow	$      165,200
Perpetual system, LIFO cost flow	$      156,100
Periodic system, Weighted Average cost flow	$      149,100
Perpetual system, Weighted Average cost flow	$      143,118

Working
Periodic

FIFO	Cost of Goods Available for Sale			Cost of Goods Sold			Inventory on hand
Activity	Units	Unit Price	Amount	Units	Unit Price	Amount	Units	Unit Price	Amount
Beginning Inventory	1800	$            15.00	$        27,000	1800	$             15.00	$           27,000
Purchases
2/4	2800	$            22.00	$        61,600	2800	$             22.00	$           61,600
4/2	3800	$            29.00	$      110,200	1700	$             29.00	$           49,300	2100	$             29.00	$           60,900
Total	8400		$     198,800	6300		$         137,900	2100		$           60,900
LIFO	Cost of Goods Available for Sale			Cost of Goods Sold			Inventory on hand
Activity	Units	Unit Price	Amount	Units	Unit Price	Amount	Units	Unit Price	Amount
Beginning Inventory	1800	$            15.00	$        27,000				1800	$             15.00	$           27,000
Purchases
2/4	2800	$            22.00	$        61,600	2500	$             22.00	$           55,000	300	$             22.00	$              6,600
4/2	3800	$            29.00	$      110,200	3800	$             29.00	$         110,200
Total	8400		$     198,800	6300		$         165,200	2100		$           33,600
Average Cost	Cost of Goods Available for Sale			Cost of Goods Sold			Inventory on hand
Activity	Units	Unit Price	Amount	Units	Unit Price	Amount	Units	Unit Price	Amount
Beginning Inventory	1800	$            15.00	$        27,000
Purchases
2/4	2800	$            22.00	$        61,600
4/2	3800	$            29.00	$      110,200
Total	8400	$        23.6667	$     198,800	6300	$         23.6667	$         149,100	2100	$         23.6667	$           49,700

Perpetual

	FIFO	Purchases			Cost of Goods Sold			Ending Balance
Date	Activity	Units	Unit Price	Amount	Units	Unit Price	Amount	Units	Unit Price	Amount
1/1	Beginning Inventory							1800	$             15.00	$           27,000
2/4	Purchase	2800	$            22.00	$        61,600				1800	$             15.00	$           27,000
								2800	$             22.00	$           61,600
2/20	Sales				1800	$             15.00	$           27,000
					1500	$             22.00	$           33,000	1300	$             22.00	$           28,600
4/2	Purchase	3800	$            29.00	$      110,200				1300	$             22.00	$           28,600
								3800	$             29.00	$         110,200
11/4	Sales				1300	$             22.00	$           28,600
					1700	$             29.00	$           49,300	2100	$             29.00	$           60,900
	Total	6600		$     171,800	6300		$         137,900	2100		$           60,900

	LIFO	Purchases			Cost of Goods Sold			Ending Balance
Date	Activity	Units	Unit Price	Amount	Units	Unit Price	Amount	Units	Unit Price	Amount
1/1	Beginning Inventory							1800	$             15.00	$           27,000
2/4	Purchase	2800	$            22.00	$        61,600				1800	$             15.00	$           27,000
								2800	$             22.00	$           61,600
2/20	Sales				2800	$             22.00	$           61,600	1300	$             15.00	$           19,500
					500	$             15.00	$              7,500
4/2	Purchase	3800	$            29.00	$      110,200				1300	$             15.00	$           19,500
								3800	$             29.00	$         110,200
11/4	Sales				3000	$             29.00	$           87,000	1300	$             15.00	$           19,500
								800	$             29.00	$           23,200
	Total	6600		$     171,800	6300		$         156,100	2100		$           42,700

	Average	Purchases			Cost of Goods Sold			Ending Balance
Date	Activity	Units	Unit Price	Amount	Units	Unit Price	Amount	Units	Unit Price	Amount
1/1	Beginning Inventory							1800	$             15.00	$           27,000
2/4	Purchase	2800	$            22.00	$        61,600				4600	$             19.26	$           88,600
2/20	Sales				3300	$             19.26	$           63,558	1300	$             19.26	$           25,042
4/2	Purchase	3800	$            29.00	$      110,200				5100	$             26.52	$         135,242
11/4	Sales				3000	$             26.52	$           79,560	2100	$             26.52	$           55,682
	Total	6600		$     171,800	6300		$         143,118	2100		$           55,682