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Crane uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final 48.) W W low age cost flow $ $ Cost of goods sold 98800 98800 113500 106000 104067 100474

Crane uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final 48.) W W low age cost flow $ $ Cost of goods sold 98800 98800 113500 106000 104067 100474

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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(b) Compute cost of goods sold, assuming Crane 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) Your answer is partially correct. (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 98800 98800 113500 106000 104067 100474
Transcribed Image Text:(b) Compute cost of goods sold, assuming Crane 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) Your answer is partially correct. (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 98800 98800 113500 106000 104067 100474
Crane Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 2/20 Transaction (a) Beginning inventory Purchase Sale 4/2 Purchase 11/4 Sale Your answer is correct. Quantity Price/Cost 1,100 2,100 2,600 3,100 2,300 $13 Weighted-average cost per unit $ 20 33 25 36 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 21.2381
Transcribed Image Text:Crane Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 2/20 Transaction (a) Beginning inventory Purchase Sale 4/2 Purchase 11/4 Sale Your answer is correct. Quantity Price/Cost 1,100 2,100 2,600 3,100 2,300 $13 Weighted-average cost per unit $ 20 33 25 36 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 21.2381
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