Question

# The accounting records of Pina Colada Corp. show the following data. Beginning inventory 4,000 units at...

The accounting records of Pina Colada Corp. show the following data.
 Beginning inventory 4,000 units at \$4 Purchases 8,500 units at \$6 Sales 10,000 units at \$9
Calculate average unit cost. (Round answer to 3 decimal places, e.g. 5.125.)
 Average unit cost \$enter average unit cost in dollars per unit
Determine cost of goods sold during the period under a periodic inventory system using the FIFO method, the LIFO method, and the average-cost method. (Round answers to 0 decimal places, e.g. 125.)
 FIFO LIFO Average-cost \$enter a dollar amount \$enter a dollar amount \$enter a dollar amount

>> Average Unit cost = [ ( 4,000 * \$ 4 ) + ( 8,500 * \$ 6 ) ] / ( 4,000 + 8,500 )

>> Average Unit cost = \$ 5.36

:: FIFO Method

>> Cost of Goods sold = ( 4,000 * \$ 4 ) + ( 6,000 * \$ 6 )

>> Cost of Goods sold = \$ 52,000.

:: LIFO Method

>> Cost of Goods sold = ( 8,500 * \$ 6 ) + ( 1,500 * \$ 4 )

>> Cost of Goods sold = \$ 57,000.

:: Average cost Method

>> Cost of Goods sold = 10,000 * \$ 5.36

>> Cost of Goods sold = \$ 53,600

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