Question

edugen.wileyplus.com Ehlo Company is A Multiproduct Firm Presented Bell Ch Return to Blackboard LIIS LU Kieso, Intermediate Accounting, 16e Help System Announcements PR URCES Nov 5 CALCULATOR Question 16 Sandhill 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 1,400 2/4 Purchase 2,400 2/20 Sale 2.900 4/2 Purchase 3,400 11/4 Sale 2,600 Calculate average-cost per unit. (Round answer to Average-cost per units LINK TO TEXT by Study decimal places, .Q. 2.7631 and Compute cost of goods sold, assuming Sandhill uses: (Round average cost per unit to places, e.g. 6,548.) Cost of goods sold (a) Periodic system, FIFO Cost How (b) Perpetual system, FIFO cost flow (c) Periodic system, UFO cost flow (d) Perpetual system, LIFO cost flow (e) Periodic system, weighted average cost row (1) Perpetual system, moving average cost flow LINK TO TEST

Answer 1

sandhill company
In periodic inventory, dates are not considered for calculating cost of each sale, instead cost of goods sold is calculated at the end of period
Total units sold are = 5500 units
FIFO ( periodic )
	Cost of goods available for sale			COGS			Ending Inventory
Date	No. of units	cost p.u	Cost of goods available for sale	No. of units	cost p.u	COGS	No. of units	cost p.u	Ending inventory
beg. Inv.	1400	14	19600	1400	14	19600
Purchases	2400	21	50400	2400	21	50400
	3400	27	91800	1700	27	45900	1700	27	45900
	7200		161800	5500		115900	1700		45900
LIFO ( periodic )
	Cost of goods available for sale			COGS			Ending Inventory
Date	No. of units	cost p.u	Cost of goods available for sale	No. of units	cost p.u	COGS	No. of units	cost p.u	Ending inventory
beg. Inv.	1400	14	19600				1400	14	19600
Purchases	2400	21	50400	2100	21	44100	300	21	6300
	3400	27	91800	3400	27	91800
	7200		161800	5500		135900	1700		25900
Average cost ( periodic )
	Cost of goods available for sale			COGS			Ending Inventory
Date	No. of units	cost p.u	Cost of goods available for sale	No. of units	cost p.u	COGS	No. of units	cost p.u	Ending inventory
beg. Inv.	1400		19600
Purchases	2400		50400
	3400		91800
	7200	22.47222222	161800	5500	22.47222222	123597.2222	1700	22.47222222	38202.77778
FIFO ( perpetual )
	Cost of goods available for sale			COGS			Ending Inventory
Date	No. of units	cost p.u	Cost of goods available for sale	No. of units	cost p.u	COGS	No. of units	cost p.u	Ending inventory
beg. Inv.	1400	14	19600				1400	14	19600
purchases	2400	21	50400				1400	14	19600
							2400	21	50400
sales				1400	14	19600
				1500	21	31500	900	21	18900
Purchases	3400	27	91800				900	21	18900
							3400	27	91800
sales				900	21	18900
				1700	27	45900	1700	27	45900
Total	7200		161800	5500		115900	1700		45900
LIFO ( perpetual )
	Cost of goods available for sale			COGS			Ending Inventory
Date	No. of units	cost p.u	Cost of goods available for sale	No. of units	cost p.u	COGS	No. of units	cost p.u	Ending inventory
beg. Inv.	1400	14	19600				1400	14	19600
purchases	2400	21	50400				1400	14	19600
							2400	21	50400
sales				2400	21	50400
				500	14	7000	900	14	12600
Purchases	3400	27	91800				900	14	12600
							3400	27	91800
Sales				2600	27	70200	900	14	12600
							800	27	21600
Total	7200		161800	5500		127600	1700		34200
Moving average ( perpetual )
	Cost of goods available for sale			COGS			Ending Inventory
Date	No. of units	cost p.u	Cost of goods available for sale	No. of units	cost p.u	COGS	No. of units	cost p.u	Ending inventory
beg. Inv.	1400	14	19600				1400	14	19600
purchases	2400	21	50400				3800	18.42105263	70000
Sales				2900	18.42105263	53421.05263	900	18.42105263	16578.94737
Purchases	3400	27	91800				4300	25.20440636	108378.9474
Sales				2600	25.20440636	65531.45655	1700	25.20440636	42847.49082
Total	7200		161800	5500		118952.5092	1700		42847.49082
Answer
a -115900
b-115900
c-135900
d-127600
e-123597
f-118953