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nventory Costing and Periodic and Perpetual inventory Systems
Redster Company is a manufacturing firm. Presented below is information concerning one of its products, called Ander.
Using an Excel spreadsheet, compute the cost of goods sold under the following situations:
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Date |
Transaction |
Quantity |
Price/Cost |
|
1/1 |
Beginning inventory |
2,900 |
$10 |
|
2/12 |
Purchase |
3,300 |
$15 |
|
3/2 |
Sale |
2,400 |
$28 |
|
4/18 |
Purchase |
4,500 |
$18 |
|
5/31 |
Sale |
3,800 |
$30 |
- 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 submission must show all calculations used to arrive at the answers,AND A SHORT WRITTEN NARRATIVE OF TOPIC . Any written comments must be formatted according to the APA REQUIREMENTS Insert comments, as needed, using Excel’s “Add a Comment” function.
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