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Renford Corporation is a manufacturing firm. Presented below is information concerning one of its products: 1/1 Beginning inventory 4,480 $15 2/12 Purchase 4,960 $20 3/2

Renford Corporation is a manufacturing firm. Presented below is information concerning one of its products:

1/1

Beginning inventory

4,480

$15

2/12

Purchase

4,960

$20

3/2

Sale

3,880

$33

4/18

Purchase

6,400

$23

5/31

Sale

5,560

$35

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.

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