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Why Moms A 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 ACT350_CTTemplate_Mod5_option1.xlsx file (in the module folder) 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 your memo Periodic FIFO 1-Jan Beginning Inventory Units Unit cost Cost 4,190 4,630 $20 $83,800 $25 $115,750 $199,550 12-Feb Purchase 18-Apr Purchase 8,820 a) Perpetual FIFO Units Unit cost Cost 2-Mar Sale 3,640 $20 $72,800 $11,000 31-May Sale 550 $20 31-May Sale 4,630 25 $115,750 c) Periodic LIFO Units Unit cost Cost 2-Mar Sale 3,640 $25 $91,000 31-May Sale $28 $145,040 $236,040 5,180 8,820 d) Perpetual LIFO Purchases Units Unit cost Cost 1-Jan Beg Inv o lo o o Perpetual IFO Purchases Sales (Cost of Goods Sold) Balance (Ending Inventory) Unit cost Units Unit cost Cost Units Unit cost Cost Units Cost 1-Jan Beg Iny 12-Feb Purchase 2-Mar Sale 18-Apr Purchase 31-May Sale Totals e) Perlodic weighted average Total Units Sold Units Unit cost Cost $0 Beginning Inventory Purchases $0 $0 Purchases $0 Weighted Average/Per Unit $00 $0 Cost of Goods Sold Perpetual Moving Average Purchases Sales (Cost of Goods Sold) Unit cost Balance Endin Inventery Unit cost Units Unit cost Cost Units welghted A Cot Cost Units Cost 1-lan Beg inv 12-Feb Purchase 2-Mar Sale 18-Apr Purchase 31-May Sale Totals

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