Option #1: Inventory Costing & Periodic and Perpetual Inventory Systems

Jordan Company is a manufacturing firm. Presented below is information concerning one of its products:

1/1	Beginning inventory	4,190	$20
2/12	Purchase	4,630	$25
3/2	Sale	3,640	$38
4/18	Purchase	5,950	$28
5/31	Sale	5,180	$40

Part A

Use the ACT350_CTTemplate_Mod5_option1.xlsx file (in the module folder) to compute the cost of goods sold under the following situations:

1. Periodic system, FIFO cost flow
2. Perpetual system, FIFO cost flow
3. Periodic system, LIFO cost flow
4. Perpetual system, LIFO cost flow
5. Periodic system, weighted-average cost flow
6. 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.

Part B

Summarize the cost of goods sold in a one-page memo to Jordan Corporations CEO.