Accounting homework. Need to be knowledgeable about: perpetual inventory, average cost per unit, FIFO, LIFO, periodic method for inventory, cost of goods.

Problem 6-3A Ziad Company had a beginning inventory on January 1 of 180 units of Product 4-18-15 at a cost of $19 per unit. During the year, the following purchases were made. Mar. 15 July 20 480 units 300 units at at $23 $24 Sept. 4 Dec. 2 420 units 120 units at at $25 $27 1,200 units were sold. Ziad Company uses a periodic inventory system. Determine the cost of goods available for sale. $ The cost of goods available for sale LINK TO TEXT Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Average cost per unit $ LINK TO TEXT Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average). (Round answers to 0 decimal places, e.g. 1,250.) FIFO The ending inventory The cost of goods sold LIFO $ $ $ $ AVERAGE-COST $ $ LINK TO TEXT Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement? results in the highest inventory amount, $ (1) . produces the highest cost of goods sold, $ (2) . Click if you would like to Show Work for this question: LINK TO TEXT Open Show Work Problem 6-5A You are provided with the following information for Najera Inc. for the month ended June 30, 2014. Najera uses the periodic method for inventory. Date June 1 June 4 June 10 June 11 June 18 June 18 June 25 June 28 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase Units 43 136 112 16 57 10 66 28 Unit Cost or Selling Price $40 45 69 69 46 46 73 51 Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit LINK TO TEXT $ Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Averagecost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250.) LIFO FIFO AVERAGE-COST $ $ $ The cost of goods sold Gross profit $ $ $ The ending inventory $ $ $ LINK TO TEXT Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2%.) LIFO Gross profit rate FIFO % AVERAGE-COST % % Click if you would like to Show Work for this question: Open Show Work Problem 6-9A Terando Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. July July July July July July Date 1 6 11 14 21 27 Purchases Units Unit Cost 170 $117 Sales Units 136 238 $135 102 272 $147 204 Calculate the average cost per unit at June 1, 6, 11, 14, 21 & 27. (Round answers to 3 decimal places, e.g. $105.250.) July 1 Average cost for each unit $ $ July 6 July 1 1 $ July 1 4 $ July 2 1 $ July 2 7 $ LINK TO TEXT Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round answers to 0 decimal places, e.g. $2,150.) FIFO The ending inventory under a perpetual inventory system Click if you would like to Show Work for this question: LINK TO TEXT $ MOVING-AVERAGE $ Open Show Work LIFO $