sale – quantity 4000 – price/cost 52

Instructions

Compute cost of goods sold, assuming TIK uses:

(a) Periodic system, FIFO cost flow.

(b) Periodic system, LIFO cost flow.

(c) Periodic system, weighted-average cost flow.

(d) Perpetual system, FIFO cost flow.

(e) Perpetual system, LIFO cost flow.

(f) Perpetual system, moving-average cost flow.

Carry Average Unit Costs to at least two decimal places.