Skysong Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.

Date		Transaction		Quantity		Price/Cost
1/1		Beginning inventory		1,600		$14
2/4		Purchase		2,600		22
2/20		Sale		3,100		36
4/2		Purchase		3,600		28
11/4		Sale		2,800		40

(a)

	Your answer is correct.

Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)

Average-cost per unit

$ 23.1282

SHOW SOLUTION

LINK TO TEXT

Attempts: 2 of 5 used

(b)

Compute cost of goods sold, assuming Skysong 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.)

				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		$