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.