Blue 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 Transaction Beginning inventory Purchase Sale Purchase Sale Quantity 3,200 4,200 4.700 5,200 4,400 Price/Cost $18 27 46 35 50

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Compute cost of goods sold, assuming Blue uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final
answers to 0 decimal places, e.g. 6,548.)
(a)
(b)
(c)
(d)
(e)
(f)
Periodic system, FIFO cost flow
Perpetual system, FIFO cost flow
Periodic system, LIFO cost flow
Perpetual system, LIFO cost flow
Periodic system, average-cost flow
Perpetual system, moving-average cost flow.
$
$
$
$
$
$
Cost of goods sold
Transcribed Image Text:Compute cost of goods sold, assuming Blue uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.) (a) (b) (c) (d) (e) (f) Periodic system, FIFO cost flow Perpetual system, FIFO cost flow Periodic system, LIFO cost flow Perpetual system, LIFO cost flow Periodic system, average-cost flow Perpetual system, moving-average cost flow. $ $ $ $ $ $ Cost of goods sold
Blue Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.
Date
1/1
2/4
Transaction
4/2
11/4
Beginning inventory
Purchase
2/20 Sale
Purchase
Sale
Quantity
3,200
4,200
4,700
5,200
4,400
Price/Cost
$18
27
46
35
50
Transcribed Image Text:Blue Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 Transaction 4/2 11/4 Beginning inventory Purchase 2/20 Sale Purchase Sale Quantity 3,200 4,200 4,700 5,200 4,400 Price/Cost $18 27 46 35 50
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