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Inventory Costing and Periodic and Perpetual inventory Systems
Redster Company is a manufacturing firm. Presented below is information concerning one of its products, called Ander.
Using an Excel spreadsheet, compute the cost of goods sold under the following situations:
Inventory Costing and Periodic and Perpetual inventory Systems
Redster Company is a manufacturing firm. Presented below is information concerning one of its products, called Ander.
Using an Excel spreadsheet, compute the cost of goods sold under the following situations:
| Date | Transaction |
Quantity
|
Price/Cost
|
| 1/1 | Beginning inventory |
2,900
|
$10
|
| 2/12 | Purchase |
3,300
|
$15
|
| 3/2 | Sale |
2,400
|
$28
|
| 4/18 | Purchase |
4,500
|
$18
|
| 5/31 | Sale |
3,800
|
$30
|
- 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
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