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Any help is much appreciated! I'll leave a thumbs up! Sheridan Company manufactures many products for use in the airline industry. Presented below is information
Any help is much appreciated! I'll leave a thumbs up!
Sheridan Company manufactures many products for use in the airline industry. Presented below is information concerning one of its products, the Orbit. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,600 $30 3/6 Sale 1,000 49 w 6/26 Purchase 3,500 32 8/2 Purchase 2,000 33 10/31 Sale 4,000 51 Compute cost of goods sold, assuming Sheridan uses: (Round average cost per unit to 2 decimal places, e.g. 2.76 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 ta $ (c) Periodic system, LIFO cost flow $ ta ( d) Perpetual system, LIFO cost flow $ ta (e) Periodic system, weighted average cost flow $ (f) Perpetual system, moving average cost flow $Step by Step Solution
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