Benson Company is a manufacturing firm. Presented below is information concernin

Question

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

1/1

Beginning inventory

3,190

$10

2/12

Purchase

3,630

$15

3/2

Sale

2,640

$28

4/18

Purchase

4,950

$18

5/31

Sale

4,180

$30

Part A

Compute the cost of goods sold under the following situations:

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 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 Benson Corporation's CEO.

1/1

Beginning inventory

3,190

$10

2/12

Purchase

3,630

$15

3/2

Sale

2,640

$28

4/18

Purchase

4,950

$18

5/31

Sale

4,180

$30

Explanation / Answer

Periodic FIFO

Working:

Perpetual FIFO

Working:

Periodic LIFO

Working:

Perpetual LIFO

Working:

Periodic Weighted Average:

Working:

Perpetual moving average

Working:

Cost of goods sold 86350

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.