Accounting Homework-5

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Option #1: Inventory Costing & Periodic and Perpetual Inventory Systems

Jordan Company is a manufacturing firm. Presented below is information concerning one of its products:

1/1

Beginning inventory

4,190

$20

2/12

Purchase

4,630

$25

3/2

Sale

3,640

$38

4/18

Purchase

5,950

$28

5/31

Sale

5,180

$40

Part A

Use the template file to compute the cost of goods sold under the following situations:

  1. Periodic system, FIFO cost flow
  2. Perpetual system, FIFO cost flow
  3. Periodic system, LIFO cost flow
  4. Perpetual system, LIFO cost flow
  5. Periodic system, weighted-average cost flow
  6. Perpetual system, moving-average cost flow

Your answers must be submitted in an Excel file and must show all calculations used to arrive at the final answers.

Part B

Summarize the cost of goods sold in a one-page memo to Jordan Corporation’s CEO. Format memo according to APA requirements.