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QUESTION
(Compute FIFO, LIFO, Average CostPeriodic and Perpetual) TIK Company manufactures many products for use in the airline industry.
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.
