Iowa Company is a multi-product firm. Presented below is information concerning one of its products, the Hawkeye.

Instructions
Compute cost of goods sold, assuming Iowa 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 costflow.

Transcribed Image Text:

Date Beginning inventory Purchase Sale Purchase Sale Quantity 1,000 2,000 2,500 3,000 2,000 Price/Cost $12 18 30 23 24 Beginoacton 2/4 2/20 4/2 11/4