Skysong 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 1,600 2,600 3,100 3,600 2,800 $14 22 36 28 40

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 Skysong uses: (Round average cost per unit to 4 decimal places, c.g. 2.7631 and final answers to
O 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 Skysong uses: (Round average cost per unit to 4 decimal places, c.g. 2.7631 and final answers to O 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
Skysong 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
1,600
2,600
3,100
3,600
2,800
$14
22
36
28
40
Transcribed Image Text:Skysong 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 1,600 2,600 3,100 3,600 2,800 $14 22 36 28 40
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