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 Odecimal places, eg. 6,548)(a) Periodic system, FIFO cost flow(b)(c)(d)(e)(f)Perpetual system, FIFO cost flowPeriodic system, LIFO cost flowPerpetual system, LIFO cost flow.Periodic system, weighted-average cost flowPerpetual 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.Date1/12/42/204/2Transaction(a)Beginning inventoryPurchaseSalePurchase11/4 SaleQuantity Price/Cost3,400Average-cost per unit $4,4004.9005,4004,600$1928473651Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)

FIFO is first in first out which means inventory bought first is sold first.LIFO is last in first…

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 11/4 (a) Transaction Beginning inventory Purchase Sale Purchase 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, eg. 2.7613)

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 11/4 (a) Transaction Beginning inventory Purchase Sale Purchase 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, eg. 2.7613)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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