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Bonita Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory
Bonita Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost
1/1 Beginning inventory 1,900 units @ $15
2/4 Purchase 2,900 units @ $23
2/20 Sale 3,400 units @ $38
4/2 Purchase 3,900 units @ $29
11/4 Sale 3,100 units @ $42
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.)
(a) using Periodic system, LIFO cost flow
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