Question: please answer. Will rate k#1 (Compute FIFO, LIFO, Average Cost-Periodic and Perpetual) company manufactures many products for use in the airline Industry. Presented below of
k#1 (Compute FIFO, LIFO, Average Cost-Periodic and Perpetual) company manufactures many products for use in the airline Industry. Presented below of its products, the Orbit. is information concerning Quantity $31 Beginning inventory 1,600 Sale Purchase Purchase Sale 3/6 6/26 8/2 10/31 1,000 3,500 2,000 4,000 50 34 52 Instructions Compute cost of goods sold, assuming TIK 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 cost flow
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