Blossom Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 3,300 2/4 Purchase 4,300 2/20 Sale 4,800 4/2 Purchase 11/4 Sale (a) Your answer is correct. Average-cost per unit $ (b) 5,300 4,500 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) e Textbook and Media $18 28 46 35 51 (a) Periodic system, FIFO cost flow (b) Perpetual system, FIFO cost flow (c) Periodic system, LIFO cost flow 28.3178 Compute cost of goods sold, assuming Blossom uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to O decimal places, e.g. 6,548.) $ $ $ Cost of goods sold

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Inventory Accounting

Inventory accounting is that branch of accounting that helps in determining the specific value of assets at different stages of production and development.