P8-6B (Compute FIFO, LIFO, Average CostPeriodic and Perpetual) TIK Company manufactures many products for use in the airline industry. Presented below is information concerning one of its products, the Orbit. 1/1 Beginning inventory - quantity 1600 - Price/Cost $31 3/6 Sale - quantity 1000 - price/cost $50 6/26 Purchase - quantity 3500 - price/cost 33 8/2 purchase - quantity 2000 - price/cost 34 10/31 sale - quantity 4000 - price/cost 53 Instructions Compute cost of goods sold, assuming TIK uses: (a) Periodic system, FIFO cost flow. (d) Perpetual system, LIFO cost flow. (b) Perpetual system, FIFO cost flow. (e) Periodic system, weighted-average cost flow. (c) Periodic system, LIFO cost flow. (f) Perpetual system, moving-average cost flow