Waterway Company is a multiproduct firm. Presented below isinformation 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 |
(a)
Calculate average-cost per unit. (Round answer to 4decimal places, e.g. 2.7613.)
(b)
Compute cost of goods sold, assuming Waterway 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 | | $ |
