Question
In: Accounting
Splish Company is a multi product firm. Presented below is information concerning one of its products,...
Splish Company is a multi product firm. Presented below is
information concerning one of its products, the Hawkeye.
|
Date |
Transaction |
Quantity |
Price/Cost |
|||
| 1/1 | Beginning inventory | 1,500 | $14 | |||
| 2/4 | Purchase | 2,500 | 21 | |||
| 2/20 | Sale | 3,000 | 35 | |||
| 4/2 | Purchase | 3,500 | 27 | |||
| 11/4 | Sale | 2,700 | 39 |
Compute cost of goods sold, assuming Splish uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631 and final answers to 0 decimal places, e.g.
6,548.)
| Cost of goods sold | ||||
| (a) | Periodic system, FIFO cost flow | $ | ||
| (b) | Perpetual system, FIFO cost flow | $ | ||
| (c) | Periodic system, LIFO cost flow | $ | ||
| (d) | Perpetual system, LIFO cost flow | $ | ||
| (e) | Periodic system, weighted-average cost flow | $ | ||
| (f) | Perpetual system, moving-average cost flow | $ |
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Splish Company is a multi product firm. Presented below is information concerning one of its products,...
Splish Company is a multi product firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
1,500
$14
2/4
Purchase
2,500
21
2/20
Sale
3,000
35
4/2
Purchase
3,500
27
11/4
Sale
2,700
39
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
Splish Company is a multi product firm. Presented below is information concerning one of its products,...
Splish Company is a multi product firm. Presented below is
information concerning one of its products, the Hawkeye.
Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
2,000
$15
2/4
Purchase
3,000
23
2/20
Sale
3,500
38
4/2
Purchase
4,000
29
11/4
Sale
3,200
42
Average-cost per unit $ _______
Compute cost of goods sold, assuming Splish uses: (Round average
cost per unit to 4 decimal places, e.g. 2.7631 and final answers to
0 decimal places, e.g. 6,548.) Cost of goods sold...
Larkspur Company is a multi product firm. Presented below is information concerning one of its products,...
Larkspur Company is a multi product firm. Presented below is
information concerning one of its products, the Hawkeye.
DATE
TRANSACTION
QUANTITY
PRICE/COST
1/1
BEGINNING INVENTORY
1,400
$14
2/4
PURCHASE
2,400
$21
2/20
SALE
2,900
$35
4/2
PURCHASE
3,400
$27
11/4
SALE
2,600
$38
Compute cost of goods sold, assuming Larkspur
uses: (Round average cost per unit to 4 decimal places,
e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.)
Calculate average-cost per unit. (Round answer to 4 decimal...
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Sandhill Company is a multi product firm. Presented below is
information concerning one of its products, the Hawkeye. Date
Transaction Quantity Price/Cost 1/1 Beginning inventory 2,200 $16
2/4 Purchase 3,200 24 2/20 Sale 3,700 40 4/2 Purchase 4,200 30 11/4
Sale 3,400 44 Collapse question part (a) Incorrect answer. Your
answer is incorrect. Try again. Calculate average-cost per unit.
(Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per
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The Griggs Company is a multi-product firm. Presented below is information concerning one of their products...
The Griggs Company is a multi-product firm. Presented below is
information concerning one of their products for the year.
Date
Activity
Units Purchased
Cost/Unit
Total Cost
January 1
BI
1,000
$12
$12,000
February 4
Purchase
2,000
$18
$36,000
February 20
Sale
2,500
$23
$57,500 ($57,500 / 2,500 = $23)
April 20
Purchase
3,000
22
$66,000
November 14
Sale
2,000
???? (give formula, not just answer)
???? (give formula, not just answer)
Instructions:
Determine both Ending Inventory (EI) and Cost of...
Corona Corp. is a multi-product beverage company. Presented below is information concerning one of its products,...
Corona Corp. is a multi-product beverage company. Presented
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spritz for 2020:
Date
Transactions
Quantity
Price/unit
1/1
Beginning Inventory 1,000 units
$12
2/10
Purchases
2,000
18
2/20
Sale
2,500
30
11/8
Purchases
3,000
23
12/9
Sales
2,000
33
The company made all purchases on account. By the end of the
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The company has...
Problem 8-6 Cullumber Company is a multi product firm. Presented below is information concerning one of...
Problem 8-6 Cullumber Company is a multi product firm. Presented
below is information concerning one of its products, the Hawkeye.
Date Transaction Quantity Price/Cost 1/1 Beginning inventory 2,400
$16 2/4 Purchase 3,400 24 2/20 Sale 3,900 41 4/2 Purchase 4,400 31
11/4 Sale 3,600 45 Your answer is correct. Calculate average-cost
per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
Average-cost per unit $ Show Solution Link to Text Your answer is
partially correct. Try again. Compute cost of...
*Problem 8-6 Shamrock Company is a multi product firm. Presented below is information concerning one of...
*Problem 8-6
Shamrock Company is a multi product firm. Presented below is
information concerning one of its
products, the Hawkeye.
Date Transaction Quantity Price/Cost
7/l Beginning inventory 3,200 $18
2/4 Purchase 4,200 27
2/2O Sale 4,700 46
4/2 Purchase 5,200 35
ll/4 Sale 4,400 50
Calculate average-cost per unit.
Average-cost per unit
Compute cost of goods sold, assuming Shamrock uses:
Cost of goods sold
(a) Periodic system, FIFO cost flow $
(b) Perpetual system, FIFO cost flow $
(c) Periodic...
Concord Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Concord 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
1,500
$14
2/4
Purchase
2,500
21
2/20
Sale
3,000
35
4/2
Purchase
3,500
27
11/4
Sale
2,700
39
(b.) Compute cost of goods sold, assuming Concord uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631 and final answers to 0 decimal places, e.g.
6,548.)
Cost of goods sold
(a)
Periodic system, FIFO cost...
Swifty Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Swifty 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
1,300
$14
2/4
Purchase
2,300
21
2/20
Sale
2,800
34
4/2
Purchase
3,300
26
11/4
Sale
2,500
38
Compute cost of goods sold, assuming Swifty uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631 and final answers to 0 decimal places, e.g.
6,548.)
Cost of goods sold
(a)
Periodic system, FIFO cost flow...
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