# Problem 6-3A Wildhorse Co. had a beginning inventory on January 1 of 308 units of Product 4-18-15 at

Problem 6-3A

Wildhorse Co. had a beginning inventory on January 1 of 308 units of Product 4-18-15 at a cost of \$19 per unit. During the year, the following purchases were made.

 Mar. 15 820 units at \$22 Sept. 4 718 units at \$25 July 20 513 units at \$23 Dec. 2 205 units at \$28

2,050 units were sold. Wildhorse Co. uses a periodic inventory system

a.Determine the cost of goods available for sale.

b. Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.23.)

c. Determine (1) the ending inventory, and (2) the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). Prove the accuracy of the cost of goods sold under the FIFO and LIFO methods. (Round answers to 0 decimal places, e.g. 1,250.)

d. 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?

#### We are the Best!

##### 275 words per page

You essay will be 275 words per page. Tell your writer how many words you need, or the pages.

##### 12 pt Times New Roman

Unless otherwise stated, we use 12pt Arial/Times New Roman as the font for your paper.

##### Double line spacing

Your essay will have double spaced text. View our sample essays.

##### Any citation style

APA, MLA, Chicago/Turabian, Harvard, our writers are experts at formatting.

Secure Payment