Compute the cost of goods sold

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Reference no: EM13825785

Question: 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:

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. Any written comments must be formatted . Insert comments, as needed, using Excel's "Add a Comment" function.

Reference no: EM13825785

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