Reference no: EM131702017
Question - Skysong Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye.
Date Transaction Quantity Price/Cost
1/1 Beginning inventory 1,200 $13
2/4 Purchase 2,200 20
2/20 Sale 2,700 34
4/2 Purchase 3,200 26
11/4 Sale 2,400 37
Compute cost of goods sold, assuming Skysong uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.)
Cost of goods sold
(a) Periodic system, FIFO cost flow$___________
(b) Perpetual system, FIFO cost flow$___________
(c) Periodic system, LIFO cost flow$ ____________
(d) Perpetual system, LIFO cost flow$ ___________
(e) Periodic system, weighted-average cost flow$___________
(f) Perpetual system, moving-average cost flow$_______________
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