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Problem 8-6 (Part Level Submission) Sheffield Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye Date Transaction
Problem 8-6 (Part Level Submission) Sheffield Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye Date Transaction Quantity Price/Cost 1/1 Beginning inventory 3,000 214 Purchase 2/20 Sale 4/2 Purchase 11/4 Sale $18 4,000 4,500 5,000 4,200 27 34 49 Compute cost of goods sold, assuming Sheffield uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.) Cost of goods sold (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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