Question

In: Accounting

Problem 8-06 Bonita Company is a multiproduct firm. Presented below is information concerning one of its...

Problem 8-06

Bonita 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 1,900 $15
2/4 Purchase 2,900 23
2/20 Sale 3,400 38
4/2 Purchase 3,900 29
11/4 Sale 3,100

42

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

1) Average-cost per unit =___________________________________?

Compute cost of goods sold, assuming Bonita 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.)

2)

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

Expert Solution

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