Skysong Company manufactures many products for use in the wine industry Presented below is information concerning one of its products, the Orbit. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,600 $29 3/6 Sale 1,000 49 6/26 Purchase 3,500 31 8/2 Purchase 2000 32 10/31 Sale 4,000 51 Compute cost of goods sold, assuming Skysong uses: (Round average cost per unit to 2 decimal places, eg. 2.76 and final answers to O decimal places, e s. 6,548) (a) Periodic system, FIFO cost flow (b) Perpetual system, FIFO cost flow (c) Periodic system, LIFO cost flow (d) Perpetual system, LIFO cost flow (el Periodic system, average-cost flow 5 5 Cost of goods sold
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- Ehlo 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 5,300 $25 2/4 Purchase 5,100 27 7,250 5,250 4,100 8,200 2/20 Sale 4/2 Purchase 7/17 Purchase 11/4 Sale 28 30 Compute cost of goods sold, assuming Ehlo uses: (a) Periodic system, FIFO cost flow (b) Perpetual system, FIFO cost flow (c) Periodic system, LIFO cost flow (d) Perpetual system, LIFO cost flow (e) Periodic system, weighted-average cost flow (f) Perpetual system, moving-average cost flow Cost of goods sold tA LA ta LA LA AEhlo 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 1,000 $12 2/4 Purchase 2,000 18 2/20 Sale 2,500 30 4/2 Purchase 3,000 23 11/4 Sale 2,200 33 Instructions Compute cost of goods sold, assuming Ehlo uses: a. Periodic system, FIFO cost flow. b. Perpetual system, FIFO cost flow. c. Periodic system, LIFO cost flow. d. Perpetual system, LIFO cost flow. e. Periodic system, weighted-average cost flow. f. Perpetual system, moving-average cost flow.Splish 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 (a) Transaction Beginning inventory Purchase Sale Purchase Sale Quantity Price/Cost Average-cost per unit $ 3,400 4,400 4,900 5,400 4,600 $19 28 47 36 51 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
- Wildhorse Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date 1/1 2/4 4/2 11/4 Transaction 2/20 Sale (a) Beginning inventory Purchase Purchase Sale Quantity Price/Cost 2,800 Your answer is incorrect. 3,800 eTextbook and Media 4,300 4,800 4,000 Weighted-average cost per unit $ $17 26 43 33 Calculate the weighted-average cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) 48Bonita 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 1,900 $15 2/4 Purchase 2,900 23 2/20 Sale 3,400 38 4/2 Purchase 3,900 29 11/4 Sale 3,100 42 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit $ Compute cost of goods sold, assuming Bonita 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.) Cost of goods sold (a) Periodic system, FIFO cost flow $ (b) Perpetual system, FIFO cost flow $ (c) Periodic system, LIFO cost flow $ (d) Perpetual system, LIFO cost flow $ (e) Periodic system, weighted-average cost flow $ (f) Perpetual system, moving-average cost flow $Windsor Company manufactures many products for use in the airline industry. Presented below is information concerning one of its products, the Orbit. Date 1/1 3/6 6/26 8/2 10/31 Transaction Beginning inventory Sale Purchase Purchase Sale Quantity 1,600 1,000 3,500 2,000 4,000 Price/Cost $31 49 33 34 51 Compute cost of goods sold, assuming Windsor uses: (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.)
- Metlock 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 2,000 $15 2/4 Purchase 3,000 23 2/20 Sale 3,500 38 4/2 Purchase 4,000 29 11/4 Sale 3,200 42 Compute cost of goods sold, assuming Metlock 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.) Cost of goods sold (a) Periodic system, FIFO cost flow $ (b) Perpetual system, FIFO cost flow $ (c) Periodic system, LIFO cost flow $ (d) Perpetual system, LIFO cost flow $ (e) Periodic system, weighted-average cost flow $ (f) Perpetual system, moving-average cost flow $Whispering Company manufactures many products for use in the airline industry. Presented below is information concerning one of its products, the Orbit. Date 1/1 3/6 6/26 8/2 10/31 (a) (b) (c) Transaction (d) Beginning inventory Sale Purchase Purchase Sale Quantity Price/Cost 1,600 1,000 3,500 2,000 4,000 Compute cost of goods sold, assuming Whispering uses: (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.) Periodic system, FIFO cost flow Perpetual system, FIFO cost flow Periodic system, LIFO cost flow Perpetual system, LIFO cost flow (e) Periodic system, average-cost flow $29 (f) Perpetual system, moving-average cost flow 51 31 32 53 $ $ $ $ $ $ Cost of goods soldUse this a pivot table to calcuate the number of total sales revenue, total profit and average profit margin for each product category: Product Category Sum of Quantity Sum of Equipment Cost Sum of Sale Amount Bar Equipment 510 11504.3726 31277.3 Commercial Appliances 730 143395.992 218123.25 Concession Equipment 352 155565.7424 240188.6 Fryers 1874 44151.6007 73716.1 Ovens and Ranges 605 491640.5884 645171.45 Refrigerators and Coolers 457 457926.0049 675414.5 Warmers 395 431708.5537 467847.3 Grand Total 4923 1735892.855 2351738.5
- Weathertough Boot Company manufactures two types of boots-rain boots and snow boots. Information related to both products is presented in the following table. (Click the icon to view the data.) Determine the ending inventory value per unit using the lower-of-cost-or-market rule assuming that WeathertoughBoot uses the group-by-group approach to LCM. WeathertoughBoot uses FIFO for inventory costing purposes. (Assume that Weathertough Boot Company is a U.S. GAAP reporter.) Begin by completing the table below to identify the market value for each group and to determine the ending inventory value per unit using the lower-of-cost-or-market. FIFO Cost Group Rain boots Snow boots Market Lower of Cost Value or Market Data table Group Rain Snow Current Replacement Cost $ 68 85 Selling Disposal Normal Profit Price Costs $93 115 $ 23 $ 25 Print Done Margin 8 14 $ Cost 61 97 - XCherokee Incorporated is a merchandiser that provided the following information Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement, Required 1 Required 2 Complete this question by entering your answers in the tabs below. Prepare a contribution format income statement. Cherokee, Incorporated Contribution Format Income Statement Sales Variable expenses Must of de old 74 nnal es Amount $ 13,000 $ 16 $1 $2 $ 21,000 $ 14,000 $ 10,000 $ 24,000 $ 89,000 208,000Cherokee Incorporated is a merchandiser that provided the following information: Number of units sold Selling price per unit Variable selling expense per unit Variable administrative expense per unit Total fixed selling expense Total fixed administrative expense Beginning merchandise inventory Ending merchandise inventory Merchandise purchases Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement. Required 1 Required 2 Prepare a contribution format income statement. Complete this question by entering your answers in the tabs below. Cherokee, Incorporated Contribution Format Income Statement Sales Variable expenses: Cost of aonde enld Amount (71.000) 10,000 $ 16 $ 2 $ 2 $ 21,000 $ 14,000 $9,000 $ 25,000 $ 87,000 $ 160,000✔ ||