Compute cost of goods sold, assuming Blue uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and decimal places, e.g. 6,548.) 1/1 (a) Periodic system, FIFO cost flow- (b) Perpetual system, FIFO cost flow. (c) Periodic system, LIFO cost flow Date 2/4 2/20 4/2 (d) (e) 11/4 (f) Perpetual system, LIFO cost flow Periodic system, average-cost flow Blue Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Quantity Price/Cost Perpetual system, moving-average cost flow Transaction Beginning inventory Purchase Sale Purchase Sale 3,200 4,200 4,700 5,200 4,400 $18 27 46 35 $ 50 $ Cost of goods sold I

Compute cost of goods sold, assuming Blue uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and decimal places, e.g. 6,548.) 1/1 (a) Periodic system, FIFO cost flow- (b) Perpetual system, FIFO cost flow. (c) Periodic system, LIFO cost flow Date 2/4 2/20 4/2 (d) (e) 11/4 (f) Perpetual system, LIFO cost flow Periodic system, average-cost flow Blue Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Quantity Price/Cost Perpetual system, moving-average cost flow Transaction Beginning inventory Purchase Sale Purchase Sale 3,200 4,200 4,700 5,200 4,400 $18 27 46 35 $ 50 $ Cost of goods sold I

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter6: Cost Of Goods Sold And Inventory

Section: Chapter Questions

Problem 24CE: Inventory Costing: Average Cost Refer to the information for Filimonov Inc. and assume that the...

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Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for weighted average (AVG).
Inventory Costing: Average Cost Refer to the information for Filimonov Inc. and assume that the company uses a perpetual inventory system. Required: Calculate the cost of goods sold and the cost of ending inventory using the average cost method. ( Note: Use four decimal places for per-unit calculations and round all other numbers to the nearest dollar.)
Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for last-in, first-out (LIFO).
Use the last-in, first-out method (LIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for B75 Company, considering the following transactions.
Use the weighted-average (AVG) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.
Use the first-in, first-out method (FIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for B75 Company, considering the following transactions.
Use the last-in, first-out (LIFO) cost allocation method, with perpetual inventory updating, to calculate (a) sales revenue, (b) cost of goods sold, and c) gross margin for A75 Company, considering the following transactions.
Calculate the cost of goods sold dollar value for A74 Company for the sale on March 11, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for (a) first-in, first-out (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average (AVG).
Snyder’s cost of goods sold using the LIFO method would be:a. $7,200.b. $7,400.c. $7,475.d. $7,700.
Snyder’s cost of goods sold using the average-cost method would be:a. $1,725.b. $6,500.c. $7,475.d. $9,200.
a) Calculate Saddlery Company’s cost of goods sold, gross margin, and ending inventory using weighted-average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to 0 decimal places, e.g. 61,052.) b) Calculate Saddlery Company’s cost of goods sold, gross margin, and ending inventory using FIFO. c)Calculate gross margin for both ? solve accurately with all working and steps with explanation , computation , formula answer in text show computation for numbers thanks
Calculate the missing values in the following table. Express the answers rounded to two decimal places, wherever applicable. Cost Amount of Markup Selling Price Rate of Markup on Cost Rate of Markup on Selling Price $116.75 $27.75 % % $286.00 38.00% % $160.00 23.00% % $64.75 % 35.00% $154.50 % 36.00%