Task#1 (Compute FIFO, LIFO, Average Cost-Periodic and Perpetual) TIK Company manufactures many products for use in the airline industry. Presented below stry Presented below is information concerning one of its products, the Orbit. Price/Cost $31 Date 1/1 3/6 6/26 8/2 10/31 Transaction Beginning inventory Sale Purchase Purchase Sale 50 Quantity_ 1,600 1,000 3,500 2,000 4,000 33 Instructions Compute cost of goods sold, assuming TIK uses: (a) Periodic system, FIFO cost flow. (d) Perpetual system, LIFO cost flow. (b) Perpetual system, FIFO cost flow. (e) Periodic system, weighted average cost flow. (c) Periodic system, LIFO cost flow. (f) Perpetual system, moving average cost flow