Question
Whispering Company manufactures many products for use in the airline industry. Presented below is information concerning one of its products, the Orbit. Date Transaction Quantity
Whispering Company manufactures many products for use in the airline industry. Presented below is information concerning one of its products, the Orbit.
Date | Transaction | Quantity | Price/Cost | |||
---|---|---|---|---|---|---|
1/1 | Beginning inventory | 1,600 | $29 | |||
3/6 | Sale | 1,000 | 51 | |||
6/26 | Purchase | 3,500 | 31 | |||
8/2 | Purchase | 2,000 | 32 | |||
10/31 | Sale | 4,000 | 53 |
Compute cost of goods sold, assuming Whispering uses: (Round average cost per unit to 2 decimal places, e.g. 2.76 and final answers to 0 decimal places, e.g. 6,548.)
Cost of goods sold | ||||
---|---|---|---|---|
(a) | Periodic system, FIFO cost flow | $enter a dollar amount | ||
(b) | Perpetual system, FIFO cost flow | $enter a dollar amount | ||
(c) | Periodic system, LIFO cost flow | $enter a dollar amount | ||
(d) | Perpetual system, LIFO cost flow | $enter a dollar amount | ||
(e) | Periodic system, weighted-average cost flow | $enter a dollar amount | ||
(f) | Perpetual system, moving-average cost flow | $enter a dollar amount |
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