Question
Splish Company manufactures many products for us in the airline industry. Presented below is information concerning one of its products, the orbits Date Transaction Quantity
Splish Company manufactures many products for us in the airline industry. Presented below is information concerning one of its products, the orbits
Date Transaction Quantity Price/Cost
1/1 Beginning inventory 1,600 $32
3/6 Sale 1,000 53
6/26 Purchase 3,500 34
8/2 Purchase 2,000 35
10/31 Sale 4,000 55
Computer cost of goods sold, assuming Splish uses:
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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