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Jordan Company is a manufacturing firm. Presented below is information concerning one of its products: Compute the cost of goods sold under the following situations:
Jordan Company is a manufacturing firm. Presented below is information concerning one of its products:
Compute the cost of goods sold under the following situations: Periodic system, FIFO cost flow Perpetual system, FIFO cost flow Periodic system, LIFO cost flow Perpetual system, LIFO cost flow Periodic system, weighted-average cost flow Perpetual system, moving-average cost flow Your answers must be submitted in an Excel file and must show all calculations used to arrive at the final answers.
Data given Unit Cost $20 $25 1-Jan Beginning inventory 12-Feb Purchase 2-Mar Sale 18-Apr Purchase 31-May Sale Units 4,190 4,630 3,640 5,950 5,180 $38 $28 $40 Total Units Sold 8,820 Periodic FIFO Units Unit cost Cost 0 0 Perpetual FIFO Units Cost 0 0 0 Unit cost $0 $0 $0 SO Periodic LIFO Units Unit cost Cost lo o d) Perpetual LIFO Purchases Units Sales (Cost of Goods Sold) Units Unit cost Balance (Ending Inventory) Units Unit cost Cost Unit cost Cost Cost 1-Jan Beg Inv 12-Feb Purchase 2-Mar Sale 18-Apr Purchase 31-May Sale Totals 0 Periodic weighted average Total Units Sold Units Cost Beginning Inventory Purchases Purchases 0 0 Unit cost $0 $0 $0 Weighted Average/Per Unit $0.00 Cost of Goods Sold $0 Perpetual Moving Average Purchases Units Sales (Cost of Goods Sold) Units Unit cost Balance (Ending Inventory) Units Unit cost Cost Unit cost Cost Cost Weighted Average Cost per Unit 1-Jan Beg Inv 12-Feb Purchase 2-Mar Sale 18-Apr Purchase 31-May Sale Totals 0 $ . 0 - $Step by Step Solution
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