Problem 8-6 (Part Level Submission) Pina Company is a multi product firm. Presented below is information...

 

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Problem 8-6 (Part Level Submission) Pina Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 Beginning inventory 1,100 2/4 Purchase 2,100 2,600 Transaction Quantity Price/Cost 2/20 Sale 4/2 Purchase 11/4 Sale ▼(a) Your answer is correct. Average-cost per unit 3,100 2,300 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 27 LINK TO TEXT SHOW SOLUTION SHOW ANSWER 21.2381 $13 20 33 LINK TO TEXT 25 36 (b) Compute cost of goods sold, assuming Pina 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 $L $ $: $ Attempts: 3 of 3 used $ Problem 8-6 (Part Level Submission) Pina Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 Beginning inventory 1,100 2/4 Purchase 2,100 2,600 Transaction Quantity Price/Cost 2/20 Sale 4/2 Purchase 11/4 Sale ▼(a) Your answer is correct. Average-cost per unit 3,100 2,300 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 27 LINK TO TEXT SHOW SOLUTION SHOW ANSWER 21.2381 $13 20 33 LINK TO TEXT 25 36 (b) Compute cost of goods sold, assuming Pina 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 $L $ $: $ Attempts: 3 of 3 used $

Answer rating: 100% (QA)

Solution aCalculation of Averge Cost per unit Formula A... View the full answer