Solution-Compute cost of goods sold

Compute cost of goods sold

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Question

Nash Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye.

Date Transaction Quantity Price/Cost

1/1 Beginning inventory 2,600 $17

2/4 Purchase 3,600 25

2/20 Sale 4,100 4

24/2 Purchase 4,600 32

11/4 Sale 3,800 46

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

Average-cost per unit

Compute cost of goods sold, assuming Nash 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$

(d) Perpetual system, LIFO cost flow$

(e) Periodic system, weighted-average cost flow$

(f) Perpetual system, moving-average cost flow$

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Compute cost of goods sold

Reference no: EM132318589

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