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Problem 8-06 Sheridan Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. 2/4 Date Transaction Quantity Price/Cost 1/1

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Problem 8-06 Sheridan Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. 2/4 Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,700 $15 Purchase 2,700 22 2/20 Sale 3,200 37 4/2 Purchase 3,700 28 11/4 Sale 2,900 40 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit 23.2716 Compute cost of goods sold, assuming Sheridan uses: (Round average cost per unit to 4 decimal places, e.g. 2.76. 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 $

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