Blue Company is a multiproduct firm. Presented below is information concerning one of its products, the...
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Blue Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Price/Cost Date 1/1 2/4 2/20 4/2 11/4 Transaction Beginning inventory Purchase Sale Purchase Sale Quantity 3,200 4,200 4,700 5,200 4,400 $18 27 46 35 50 Compute cost of goods sold, assuming Blue uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and decimal places, e.g. 6,548.) (a) (b) (c) (e) Periodic system, FIFO cost flow (f) Perpetual system, FIFO cost flow (d) Perpetual system, LIFO cost flow Periodic system, LIFO cost flow Periodic system, average-cost flow Perpetual system, moving-average cost flow $ $ Cost of goods sold I Blue Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Price/Cost Date 1/1 2/4 2/20 4/2 11/4 Transaction Beginning inventory Purchase Sale Purchase Sale Quantity 3,200 4,200 4,700 5,200 4,400 $18 27 46 35 50 Compute cost of goods sold, assuming Blue uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and decimal places, e.g. 6,548.) (a) (b) (c) (e) Periodic system, FIFO cost flow (f) Perpetual system, FIFO cost flow (d) Perpetual system, LIFO cost flow Periodic system, LIFO cost flow Periodic system, average-cost flow Perpetual system, moving-average cost flow $ $ Cost of goods sold I
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Ans A Total units sold 4700 4400 9100 Periodic FIFO Date Units Rate Total 01Jan 3200 1800 57600 04Feb 4200 2700 113400 02Apr 1700 3500 59500 Cost of g... View the full answer
Related Book For
Intermediate Accounting IFRS
ISBN: 978-1119372936
3rd edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Posted Date:
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