Ciara Jones Ehlo Company is a multiproduct firm Presented...

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Ciara Jones Ehlo Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. Date Transaction Quantity Price/Cost 1/1 Beginning inventory 1,000 $12 2/4 Purchase 2,000 18 2/20 Sale 2,500 30 4/2 Purchase 3,000 23 11/4 Sale 2,200 33 Instructions Compute cost of goods sold, assuming Ehlo 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. (a) Beginning inventory ......................................... 1,000 Purchases (2,000 + 3,000) ................................ 5,000 Units available for sale ..................................... 6,000 Sales (2,500 + 2,200) ........................................ (4,700 ) Goods on hand .................................................. 1,300 Periodic FIFO 1,000 X $12 = $12,000 2,000 X $18 = 36,000 1,700 X $23 = 39,100 4,700 $87,100 (b) Perpetual FIFO
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