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Crane Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. DateTransaction Quantity Price/Cost $17 26 43 1/1
Crane Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye.
DateTransaction Quantity Price/Cost $17 26 43 1/1 Beginning inventory 2,700 3,700 4,200 4,700 3,900 2/4 Purchase 2/20 Sale 4/2 Purchase 11/4 Sale 47 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit 26.7748 Compute cost of goods sold, assuming Crane 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.) 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 flowStep by Step Solution
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