7. (12 points)Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.DateTransactionQuantityPrice/Cost1/1Beginning inventory2,980$142/4Purchase3,980222/20Sale4,7204/2Purchase4,980287/17Purchase3,1003311/4Sale5,180Compute cost of goods sold, assuming Ehlo uses: Cost of goods sold(a)Periodic system, FIFO cost flow$(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$

7. (12 points) Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction 1/1 Beginning inventory 2/4 Purchase 2/20 Sale 4/2 Purchase 7/17 Purchase 11/4 Sale Quantity Price/Cost 2,980 $14 3,980 22 4,720 4,980 28 3,100 5,180 33 Compute cost of goods sold, assuming Ehlo uses: 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 |