Windsor Company manufactures many products for use in the airline industry. Presented below is information concerning one of itsproducts, the Orbit.Date1/13/66/268/210/31TransactionBeginning inventorySalePurchasePurchaseSaleQuantity1,6001,0003,5002,0004,000Price/Cost$3149333451Compute cost of goods sold, assuming Windsor uses: (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0decimal places, e.g. 6,548.) Windsor Company manufactures many products for use in the airline industry. Presented below is information concerning one of itsproducts, the Orbit.Date1/13/66/268/210/31TransactionBeginning inventorySalePurchasePurchaseSaleQuantity1,6001,0003,5002,0004,000Price/Cost$3149333451Compute cost of goods sold, assuming Windsor uses: (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0decimal places, e.g. 6,548.)

Generally the materials purchased for production are not fully consumed. There is some quantity of…

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 Transaction Beginning inventory Sale Purchase Purchase 10/31 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, eg. 2.76 and final answers to O dacimal places eg 6.548)

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 Transaction Beginning inventory Sale Purchase Purchase 10/31 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, eg. 2.76 and final answers to O dacimal places eg 6.548)

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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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.)
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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 sold