Question
Sage Hill Inc. uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below. Date Number of Units Unit Price May 7
Sage Hill Inc. uses a perpetual inventory system. Data for product E2-D2 include the purchases shown below. Date Number of Units Unit Price May 7 46 $18 July 28 37 23 On June 1, Sage Hill Inc. sold 23 units, and on August 27, 37 more units.
Calculate the average cost. (Round answers to 3 decimal places, e.g. 5.125.)
June 1 sale: $ 23 ???
Aug. 27 sale: $ 21.083 ???
Compute the cost of goods sold using FIFO, LIFO, and average-cost. (Round answers to 0 decimal places, e.g. 125.)
FIFO LIFO AVERAGE-COST
Cost of goods sold $ ???? $ ????? $??????
I'm def not sure what i'm doing for any of the problem, can someone help?
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