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.