Question
In: Accounting
Waterway Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Waterway 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 | 2,900 | $18 | |||
| 2/4 | Purchase | 3,900 | 26 | |||
| 2/20 | Sale | 4,400 | 44 | |||
| 4/2 | Purchase | 4,900 | 34 | |||
| 11/4 | Sale | 4,100 | 48 |
Compute cost of goods sold, assuming Waterway 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
Waterway Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Waterway 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
2,900
$18
2/4
Purchase
3,900
26
2/20
Sale
4,400
44
4/2
Purchase
4,900
34
11/4
Sale
4,100
48
(a)
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
(b)
Compute cost of goods sold, assuming Waterway uses:
(Round average cost per unit to 4 decimal places, e.g.
2.7631 and...
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...
Oriole Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Oriole 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
3,000
$18
2/4
Purchase
4,000
27
2/20
Sale
4,500
44
4/2
Purchase
5,000
34
11/4
Sale
4,200
49
Compute cost of goods sold, assuming Oriole 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...
Windsor Company is a multiproduct firm. Presented below is information concerning one of its products, the...
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
$...
Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Ehlo 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
3,980
$18
2/4
Purchase
4,000
22
2/20
Sale
4,650
4/2
Purchase
5,250
24
7/17
Purchase
3,100
27
11/4
Sale
6,200
Compute cost of goods sold, assuming Ehlo uses:
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,...
Sheridan Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Sheridan 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
1,700
$15
2/4
Purchase
2,700
22
2/20
Sale
3,200
37
4/2
Purchase
3,700
28
11/4
Sale
2,900
40
Correct answer iconYour answer is correct.
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
$
eTextbook and Media
New attempt is in progress. Some of the new entries may impact
the...
Marigold Company is a multiproduct firm. Presented below is information concerning one of its products, the...
Marigold 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
1,400
$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
(a)
Calculate average-cost per unit. (Round answer to 4
decimal places, e.g. 2.7613.)
Average-cost per unit
Find all of these:
a) Periodic System, FIFO cost flow, (b) Perpetual System, FIFO
Cost Flow
(c) Periodic System, LIFO Cost Flow...
Windsor Company is a multiproduct firm. Presented below is information concerning one of its products, the...
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
Compute cost of goods sold, assuming Windsor 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...
Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its products, the...
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,...
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