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P8-6 (LO3) GROUPWORK (Compute FIFO, LIFO, Average-Cost-Periodic and Perpetual) uct firm. Presented below is information concerning one of its products, the Hawkeye. Ehlo Compa Date
P8-6 (LO3) GROUPWORK (Compute FIFO, LIFO, Average-Cost-Periodic and Perpetual) uct firm. Presented below is information concerning one of its products, the Hawkeye. Ehlo Compa Date Transaction Quantity Price/Cost 1,000 2,000 2,500 3,000 2,200 $12 18 30 Beginning inventory 2/4 Purchase 2/20 Sale 4/2 Purchase 11/4 Sale nstructions ompute cost of goods sold, assuming Ehlo uses: (a) 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
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