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ANSWER AND EXPLAIN ALL 3 QUESTIONS PLEASE Flounder Corporation is a multi-product firm. The following information concerns one of its products, the Trinton: Date Price/
ANSWER AND EXPLAIN ALL 3 QUESTIONS PLEASE
Flounder Corporation is a multi-product firm. The following information concerns one of its products, the Trinton: Date Price/ Cost Quantity 1.300 Jan. Transaction Beginning inventory Purchase 1 $12 Feb. 4 2,220 16 Feb. 20 Sale 2,690 29 Apr. 2 Purchase 3,220 20 Nov. 4 Sale 2,800 34 Calculate cost of goods sold, assuming Flounder uses a periodic inventory system and FIFO cost formula. Cost of goods sold 90520 Calculate cost of goods sold, assuming Flounder uses a periodic inventory system and weighted average cost formula. (Round weighted average cost per unit to 2 decimal places, eg. 52.75 and final answer to O decimal places, eg. 5,275.) Cost of goods sold $ Calculate cost of goods sold, assuming Flounder uses a perpetual inventory system and moving average cost formula. (Round weighted average cost per unit to 2 decimal places, eg. 52.75 and final answer to decimal places, eg. 5,275.) Cost of goods sold 91923Step by Step Solution
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