Problem 6-3A Ziad Company had a beginning inventory on January 1 of 288 units of Product 4-18-15 at a cost of $19 per unit. During the year, the following purchases were made. Problem 6-9A Terando Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units July 1 55 $111 July 6 44 July 11 77 $125 July 14 33 July 21 88 $138 July 27 66 Calculate the average cost per unit at June 1, 6, 11, 14, 21 & 27. (Round answers to 3 decimal places, e.g. $105.250.) Average cost for each unit July 1 $ July 6 $ July 11 $ July 14 $ July 21 $ July 27 $ LINK TO TEXT Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round answers to 0 decimal places, e.g. $2,150.) FIFO MOVING-AVERAGE LIFO The ending inventory under a perpetual inventory system $ $ $ Click if you would like to Show Work for this question: Open Show Work Mar. 15 768 units at $22 Sept. 4 672 units at $25 July 20 480 units at $23 Dec. 2 192 units at $28 1,920 units were sold. Ziad Company uses a periodic inventory system. Determine the cost of goods available for sale. The cost of goods available for sale $ LINK TO TEXT Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.25.) Average cost per unit $ LINK TO TEXT Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average). (Round answers to 0 decimal places, e.g. 1,250.) FIFO LIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ LINK TO TEXT Which cost flow method results in (1) the highest inventory amount for the balance sheet, and (2) the highest cost of goods sold for the income statement? (1) FIFO LIFO Average-cost results in the highest inventory amount, $. (2) FIFO LIFO Average-cost produces the highest cost of goods sold, $. Click if you would like to Show Work for this question: Open Show Work Problem 6-5A You are provided with the following information for Najera Inc. for the month ended June 30, 2014. Najera uses the periodic method for inventory. Date Description Units Unit Cost or Selling Price June 1 Beginning inventory 45 $39 June 4 Purchase 137 42 June 10 Sale 111 71 June 11 Sale return 12 71 June 18 Purchase 56 45 June 18 Purchase return 9 45 June 25 Sale 65 76 June 28 Purchase 31 48 Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit $ LINK TO TEXT Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250.) LIFO FIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ Gross profit $ $ $ LINK TO TEXT Calculate gross profit rate under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decimal place, e.g. 51.2%.) LIFO FIFO AVERAGE-COST Gross profit rate % % % Click if you would like to Show Work for this question: Open Show Work