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 Transaction Beginning inventory Purchase Sale Purchase Sale Quantity 3,400 4,400 4,900 5,400 4,600 Price/Cost $19 28 47 36 51

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 Transaction Beginning inventory Purchase Sale Purchase Sale Quantity 3,400 4,400 4,900 5,400 4,600 Price/Cost $19 28 47 36 51

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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Question

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
Transaction
Beginning inventory
Purchase
Sale
Purchase
Sale
Quantity
3,400
4,400
4,900
5,400
4,600
Price/Cost
$19
28
47
36
51

Compute cost of goods sold, assuming $plish uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to O
decimal places, e.g. 6,548.)
(a) Periodic system, FIFO cost flow
(b)
(c)
(d)
(e)
(f)
Perpetual system, FIFO cost flow
Periodic system, LIFO cost flow
Perpetual system, LIFO cost flow
Periodic system, weighted-average cost flow
Perpetual system, moving-average cost flow
LA
$
LA
$
LA
$
$
LA
LA
$
LA
Cost of goods sold

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