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Please see attachment for incorrect answers that need to be corrected. Problem 8-6 Ehlo Company is a multiproduct firm. Presented below is information concerning one
Please see attachment for incorrect answers that need to be corrected.
Problem 8-6 Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Dat e 1/1 2/4 2/20 4/2 11/4 Quantit y $15 2,590 3,090 3,590 2,790 Beginning inventory Purchase Sale Purchase Sale Price/Cost 1,590 Transaction 22 36 28 40 Your answer is correct. Calculate average-cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Average-cost per unit $ 23.34 SHOW SOLUTION SHOW ANSWER LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Compute cost of goods sold, assuming Ehlo 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.) (a) Periodic system, FIFO cost flow (b) Perpetual system, FIFO cost flow (c) Periodic system, LIFO cost flow (d) Perpetual system, LIFO cost flow Cost of goods sold $ 128,430 $ 128,430 $ 150,900 $ 142,600 (e) Periodic system, weighted-average cost flow (f) Perpetual system, moving-average cost flow $ 181,350 $ 132,245 Your answer is partially correct. Try again. The following information relates to the Jimmy Johnson Company. Ending Inventory (End-of-Year Prices) Date December 31, 2010 Price Index $ 65,800 100 December 31, 2011 97,584 107 December 31, 2012 105,434 119 December 31, 2013 118,326 123 December 31, 2014 110,080 128 Use the dollar-value LIFO method to compute the ending inventory for Johnson Company for 2010 through 2014. 2010 2011 2012 2013 2014 Ending Inventory $ 65,800 $ 92,178 $ 90,196 $ 99,544 $ 87,414Step by Step Solution
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