Question

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

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

Date

Transaction

Quantity

Price/Cost

1/1 Beginning inventory 2,000 $15
2/4 Purchase 3,000 23
2/20 Sale 3,500 38
4/2 Purchase 4,000 29
11/4 Sale 3,200 42

Average cost per unit?
Periodic system FIFO cost flow?

Perpetual system FIFO cost flow?
Periodic system LIFO cost flow?

Perpetual system LIFO cost flow?

Periodic system weighted-average cost flow?

Perpetual system moving-average cost flow?

0 0
Add a comment Improve this question Transcribed image text
Answer #1

Average cost per unit =(23+29)/2=26

@ Begining Inventory 2000 Kuchaves (3600+4000) 7000 Units available for sale 9000 Goods Sales (2500 13200) (6700) Goods on hatrn Periodic weighted Aveeage 2000 x 415 $30,000 3000 V23 - $69,000 4.000 $291,16,000 970 2,15000 $23.89 9000 ③ Perpetual Dat

Add a comment
Know the answer?
Add Answer to:
Blake Company is a multi product firm. Presented below is information concerning one of its products,...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Pearl Company is a multi product firm. Presented below is information concerning one of its products,...

    Pearl 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 2,000 $15 2/4 Purchase 3,000 23 2/20 Sale 3,500 38 4/2 Purchase 4,000 29 11/4 Sale 3,200 42 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 Pearl uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final...

  • Headland Company is a multi product firm. Presented below is Information concerning one of its products, the Hawkey...

    Headland 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 2,000 $15 2/4 Purchase 3,000 2/20 Sale 3,500 4/2 Purchase 4,000 11/4 Sale 3,200 23 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per units LINK TO TEXT Compute cost of goods sold, assuming Head and uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final...

  • Riverbed Company is a multi product firm. Presented below is information concerning one of its products,...

    Riverbed 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 3,200 $18 2/4 Purchase 4,200 27 2/20 Sale 4,700 46 4/2 Purchase 5,200 35 11/4 Sale 4,400 50 1. Compute cost of goods sold, assuming Riverbed 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...

  • Sandhill Company is a multi product firm. Presented below is information concerning one of its products,...

    Sandhill Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction 1/1 Beginning inventory 2/4 Purchase 2/20 Sale 4/2 Purchase 11/4 Sale Quantity Price/Cost 1,400 2,400 2,900 3,400 2,600 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 Sandhill uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to o decimal places, e.g....

  • Crane Company is a multi product firm. Presented below is information concerning one of its products,...

    Crane Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye. Problem 8-6 (Part Level Submission) Crane 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 3,100 $18 2/4 Purchase 4,100 27 2/20 Sale 45 4/2 Purchase 5,100 35 11/4 Sale 4,300 50 4,600 (a) Your answer is correct. Calculate average-cost per unit. (Round answer to 4 decimal...

  • Teal Company is a multi product firm. Presented below is information concerning one of its products, the Hawk...

    Teal 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 2,900 $18 2/4 Purchase 3,900 26 2/20 Sale 4,400 44 4/2 Purchase 4,900 34 11/4 Sale 4,100 48 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 Teal uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final...

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

    Vaughn 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 2,500 $17 2/4 Purchase 3,500 25 2/20 Sale 4,000 41 4/2 Purchase 4,500 32 11/4 Sale 3,700 46 Compute cost of goods sold, assuming Vaughn 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...

  • Problem 8-6 Indigo Company is a multi product firm. Presented below is information concerning one of...

    Problem 8-6 Indigo 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 3,500 $19 2/4 Purchase 4,500 28 2/20 Sale 5,000 47 4/2 Purchase 5,500 36 11/4 Sale 4,700 52 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit $ Link to Text Compute cost of goods sold, assuming Indigo uses: (Round average cost per unit to 4 decimal...

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

    Concord 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 1,500 $14 2/4 Purchase 2,500 21 2/20 Sale 3,000 35 4/2 Purchase 3,500 27 11/4 Sale 2,700 39 Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.) Average-cost per unit $ LINK TO TEXT Compute cost of goods sold, assuming Concord uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631...

  • . 7. (12 points)Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the...

    . 7. (12 points)Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.DateTransactionQuantityPrice/Cost1/1Beginning inventory2,980$142/4Purchase3,980222/20Sale4,7204/2Purchase4,980287/17Purchase3,1003311/4Sale5,180Compute cost of goods sold, assuming Ehlo uses: Cost of goods sold(a)Periodic system, FIFO cost flow$(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$ 7. (12 points) Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. 22. Date Transaction 1/1...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT