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Skysong Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,600
Skysong Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye.
Date | Transaction | Quantity | Price/Cost | |||
1/1 | Beginning inventory | 1,600 | $14 | |||
2/4 | Purchase | 2,600 | 22 | |||
2/20 | Sale | 3,100 | 36 | |||
4/2 | Purchase | 3,600 | 28 | |||
11/4 | Sale | 2,800 | 40 |
Round answers to the 4th decimal and give explanations please on how to get each one
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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