Question
Larkspur 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
Larkspur 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 | 1,400 | $14 |
2/4 | PURCHASE | 2,400 | $21 |
2/20 | SALE | 2,900 | $35 |
4/2 | PURCHASE | 3,400 | $27 |
11/4 | SALE | 2,600 | $38 |
Compute cost of goods sold, assuming Larkspur 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.) Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
Average-cost per unit $
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 $
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