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Compute cost of goods sold, assuming Sunland 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) Perpetual system, FIFO cost flow Periodic system, LIFO cost flow Perpetual system, LIFO cost flow MA s Cost of goods sold

Compute cost of goods sold, assuming Sunland 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) Perpetual system, FIFO cost flow Periodic system, LIFO cost flow Perpetual system, LIFO cost flow MA s 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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Compute cost of goods sold, assuming Sunland uses: (Round average cost per unit to 4 decimal places, eg. 2.7631 and final answers to O decimal places, e.g. 6,548.) (a) (b) (d) (c) Periodic system, LIFO cost flow (e) Periodic system, FIFO cost flow (f) Perpetual system, FIFO cost flow Perpetual system, LIFO cost flow Periodic system, average-cost flow Perpetual system, moving-average cost flow MA S s Cost of goods sold
Transcribed Image Text:Compute cost of goods sold, assuming Sunland uses: (Round average cost per unit to 4 decimal places, eg. 2.7631 and final answers to O decimal places, e.g. 6,548.) (a) (b) (d) (c) Periodic system, LIFO cost flow (e) Periodic system, FIFO cost flow (f) Perpetual system, FIFO cost flow Perpetual system, LIFO cost flow Periodic system, average-cost flow Perpetual system, moving-average cost flow MA S s Cost of goods sold
Sunland 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 Price/Cost 2,300 3,300 3,800 4,300 3,500 $16 24 40 31 44
Transcribed Image Text:Sunland 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 Price/Cost 2,300 3,300 3,800 4,300 3,500 $16 24 40 31 44
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