Question
In: Accounting
Splish Company is a multi product firm. Presented below is information concerning one of its products,...
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Solutions
Expert Solution
| CALCULATION OF AVERAGE COST PER UNIT | ||||
| Date | Particulars | Units (A) | Rate Per unit | Total Cost |
| 1/1 | Beginning inventory | 1500 | $ 14.00 | $21,000 |
| 2/4 | Purchases | 2500 | $ 21.00 | $52,500 |
| 4/2 | Purchases | 3500 | $ 27.00 | $94,500 |
| Total Goods Available for Sale | 7500 | $1,68,000 | ||
| Average Cost Per Unit = Total Cost / Total Units available for sale | ||||
| Average Cost Per Unit = $168,000 / 7,500 Units = | $ 22.4000 | |||
| Answer = Average Cost Per unit = $ 22.4000 | ||||
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
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...
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
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DATE
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BEGINNING INVENTORY
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$14
2/4
PURCHASE
2,400
$21
2/20
SALE
2,900
$35
4/2
PURCHASE
3,400
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11/4
SALE
2,600
$38
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BI
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$12
$12,000
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2,000
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Shamrock Company is a multi product firm. Presented below is
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Date Transaction Quantity Price/Cost
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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
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Date
Transaction
Quantity
Price/Cost
1/1
Beginning inventory
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$14
2/4
Purchase
2,300
21
2/20
Sale
2,800
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4/2
Purchase
3,300
26
11/4
Sale
2,500
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