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Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,700 $15 2/4 Purchase 2,700 22 2/20 Sale 3,200 37 4/2 Purchase 3,700 28 11/4 Sale 2,900 40
Date | Transaction | Quantity | Price/Cost | |||
1/1 | Beginning inventory | 1,700 | $15 | |||
2/4 | Purchase | 2,700 | 22 | |||
2/20 | Sale | 3,200 | 37 | |||
4/2 | Purchase | 3,700 | 28 | |||
11/4 | Sale | 2,900 | 40 |
Compute cost of goods sold, assuming Sheridan uses
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 | $ |
I have the answers for periodic but not perpetual. please help step by step.
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