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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:
- Periodic system, FIFO cost flow
- Perpetual system, FIFO cost flow
- Periodic system, LIFO cost flow
- Perpetual system, LIFO cost flow
- Periodic system, weighted-average cost flow
- 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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