In: Accounting
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 |
$ |