In: Accounting
Wildhorse 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 | 2,800 | $17 | |||
2/4 | Purchase | 3,800 | 26 | |||
2/20 | Sale | 4,300 | 43 | |||
4/2 | Purchase | 4,800 | 33 | |||
11/4 | Sale | 4,000 | 48 |
Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
Average-cost per unit |
$ |
eTextbook and Media
Compute cost of goods sold, assuming Wildhorse 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 |
$ |