FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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24.

 

 

 

answer of part a is $28.9545

 

 

(b)
Compute cost of goods sold, assuming Splish uses: (Round average cost per unit to 4 decimal places, eg. 2.7631 and final answers to O
decimal places, eg. 6,548)
(a) Periodic system, FIFO cost flow
(b)
(c)
(d)
(e)
(f)
Perpetual system, FIFO cost flow
Periodic system, LIFO cost flow
Perpetual system, LIFO cost flow.
Periodic system, weighted-average cost flow
Perpetual system, moving-average cost flow
$
$
$
$
Cost of goods sold
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Transcribed Image Text:(b) Compute cost of goods sold, assuming Splish uses: (Round average cost per unit to 4 decimal places, eg. 2.7631 and final answers to O decimal places, eg. 6,548) (a) Periodic system, FIFO cost flow (b) (c) (d) (e) (f) Perpetual system, FIFO cost flow Periodic system, LIFO cost flow Perpetual system, LIFO cost flow. Periodic system, weighted-average cost flow Perpetual system, moving-average cost flow $ $ $ $ Cost of goods sold
Splish Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.
Date
1/1
2/4
2/20
4/2
Transaction
(a)
Beginning inventory
Purchase
Sale
Purchase
11/4 Sale
Quantity Price/Cost
3,400
Average-cost per unit $
4,400
4.900
5,400
4,600
$19
28
47
36
51
Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
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Transcribed Image Text:Splish Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 2/20 4/2 Transaction (a) Beginning inventory Purchase Sale Purchase 11/4 Sale Quantity Price/Cost 3,400 Average-cost per unit $ 4,400 4.900 5,400 4,600 $19 28 47 36 51 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
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