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Calculate cost of goods sold assuming bernadino use periodic

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Reference no: EM132970463

Bernadino Corporation is a multi-product firm. The following information concerns one of its products, the Trinton:

Date                Transaction                  Quantity              Cost
Jan. 1       Beginning inventory                1,000              $12
Feb. 4        Purchase                               2,000            18
Feb. 20        Sale                                    2,500
Apr. 2        Purchase                                 3,000            23
Nov. 4          Sale                                       2,000

Instructions

Problem 1: Calculate cost of goods sold, assuming Bernadino uses:

a. A periodic inventory system and FIFO cost formula
b. A periodic inventory system and weighted average cost formula. Round cost per unit to two decimal places.
c. A perpetual inventory system and moving-average cost formula. Round cost per unit to two decimal places.

Reference no: EM132970463

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