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Metlock Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory
Metlock Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 2,000 $15 2/4 Purchase 3,000 N 23 2/20 Sale 3,500 38 4/2 Purchase 4,000 29 11/4 Sale 3,200 42 Compute cost of goods sold, assuming Metlock uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to O decimal places, e.g. 6,548.) Cost of goods sold (a) Periodic system, FIFO cost flow 235300 (b) Perpetual system, FIFO cost flow $ 235300 (c) Periodic system, LIFO cost flow $ 178100 (d) Perpetual system, LIFO cost flow 169300 (e) Periodic system, average-cost flow: 160055.63 (f) Perpetual system, moving average cost flow $
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