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(a) Metlock 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 Sale (b) (a) Transaction Beginning inventory Purchase Weighted-average cost per unit S (c) (d) Sale (e) Purchase (f) Your answer is correct. Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, eg. 2.7613) Quantity Price/Cost 2,000 Compute cost of goods sold, assuming Metlock uses: (Round average cost per unit to 4 decimal places, eg. 2.7631 and final answers to O decimal places, e.g. 6,548.) (b) Perpetual system, FIFO cost flow 3.000 Periodic system, FIFO cost flow 3,500 4,000 3,200 Periodic system, LIFO cost flow Perpetual system, LIFO cost flow Periodic system, average-cost flow 23.8889 Perpetual system, moving-average cost flow $ $15 23 38 29 $ 42 $ $ I Cost of goods sold

(a) Metlock 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 Sale (b) (a) Transaction Beginning inventory Purchase Weighted-average cost per unit S (c) (d) Sale (e) Purchase (f) Your answer is correct. Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, eg. 2.7613) Quantity Price/Cost 2,000 Compute cost of goods sold, assuming Metlock uses: (Round average cost per unit to 4 decimal places, eg. 2.7631 and final answers to O decimal places, e.g. 6,548.) (b) Perpetual system, FIFO cost flow 3.000 Periodic system, FIFO cost flow 3,500 4,000 3,200 Periodic system, LIFO cost flow Perpetual system, LIFO cost flow Periodic system, average-cost flow 23.8889 Perpetual system, moving-average cost flow $ $15 23 38 29 $ 42 $ $ I Cost of goods sold

FINANCIAL ACCOUNTING
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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Need part b) only, Answer complete question otherwise skip it strictly, answer in text form please (without image)
(a) Metlock 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 (b) (a) (b) (c) Transaction (d) Beginning inventory Weighted-average cost per unit S (e) Purchase (f) Sale Purchase Sale Your answer is correct. Quantity Price/Cost 2,000 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, eg. 2.7613) 3,000 Periodic system, FIFO cost flow 3,500 4,000 Periodic system, LIFO cost flow 3,200 Compute cost of goods sold, assuming Metlock uses: (Round average cost per unit to 4 decimal places, eg. 2.7631 and final answers to O decimal places, e.g. 6,548.) Perpetual system, FIFO cost flow Perpetual system, LIFO cost flow Periodic system, average-cost flow 23.8889 Perpetual system, moving-average cost flow $ $ $15 $ $I $ 23 $ 38 29 42 Cost of goods sold
Transcribed Image Text:(a) Metlock 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 (b) (a) (b) (c) Transaction (d) Beginning inventory Weighted-average cost per unit S (e) Purchase (f) Sale Purchase Sale Your answer is correct. Quantity Price/Cost 2,000 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, eg. 2.7613) 3,000 Periodic system, FIFO cost flow 3,500 4,000 Periodic system, LIFO cost flow 3,200 Compute cost of goods sold, assuming Metlock uses: (Round average cost per unit to 4 decimal places, eg. 2.7631 and final answers to O decimal places, e.g. 6,548.) Perpetual system, FIFO cost flow Perpetual system, LIFO cost flow Periodic system, average-cost flow 23.8889 Perpetual system, moving-average cost flow $ $ $15 $ $I $ 23 $ 38 29 42 Cost of goods sold
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