Problem 6-3A Ziad Company had a beginning inventory on January 1 of288units of Product 4-18-15 at a cost of $19per unit. During the year, the following purchases were made.

Problem 6-9A Terando Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.

Purchases
Date	Units	Unit Cost	Sales Units
July	1	55	$111
July	6	44
July	11	77	$125
July	14	33
July	21	88	$138
July	27	66

Calculate the average cost per unit at June 1, 6, 11, 14, 21 & 27.(Round answers to 3 decimal places, e.g. $105.250.)

Average cost for each unit
July	1	$
July	6	$
July	11	$
July	14	$
July	21	$
July	27	$

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Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO.(Round answers to 0 decimal places, e.g. $2,150.)

FIFO	MOVING-AVERAGE	LIFO
The ending inventory under a perpetual inventory system	$	$	$

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Mar. 15

768 units

at

$22

Sept. 4

672 units

at

$25

July 20

480 units

at

$23

Dec. 2

192 units

at

$28

1,920units were sold. Ziad Company uses a periodic inventory system.

Determine the cost of goods available for sale.

The cost of goods available for sale

$

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Calculate average cost per unit.(Round answer to 2 decimal places, e.g. 2.25.)

Average cost per unit

$

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Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average).(Round answers to 0 decimal places, e.g. 1,250.)

FIFO	LIFO	AVERAGE-COST
The ending inventory	$	$	$
The cost of goods sold	$	$	$

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Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement?

(1)	FIFOLIFOAverage-costresults in the highest inventory amount, $.
(2)	FIFOLIFOAverage-costproduces the highest cost of goods sold, $.

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Problem 6-5A You are provided with the following information for Najera Inc. for the month ended June 30, 2014. Najera uses the periodic method for inventory.

Date	Description	Units	Unit Cost or Selling Price
June	1	Beginning inventory	45	$39
June	4	Purchase	137	42
June	10	Sale	111	71
June	11	Sale return	12	71
June	18	Purchase	56	45
June	18	Purchase return	9	45
June	25	Sale	65	76
June	28	Purchase	31	48

Calculate cost per unit.(Round answer to 2 decimal places, e.g. 5.25.)

Weighted-average cost per unit

$

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Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.(Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250.)

LIFO	FIFO	AVERAGE-COST
The ending inventory	$	$	$
The cost of goods sold	$	$	$
Gross profit	$	$	$

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Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.(Round answers to 1 decimal place, e.g. 51.2%.)

LIFO	FIFO	AVERAGE-COST
Gross profit rate		%		%		%

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