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Flounder Corporation is a multi-product firm. The following information concerns one of its products, the Trinton: Date Transaction Quantity Price/ Cost Jan. 1 Beginning inventory

Flounder Corporation is a multi-product firm. The following information concerns one of its products, the Trinton:

Date Transaction Quantity Price/ Cost
Jan. 1 Beginning inventory 1,300 $12
Feb. 4 Purchase 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 $

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, e.g. 52.75 and final answer to 0 decimal places, e.g. 5,275.)

Cost of goods sold

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