question archive Company uses the periodic inventory system to account for inventories
Company uses the periodic inventory system to account for inventories
Subject:AccountingPrice: Bought3
Company uses the periodic inventory system to account for inventories. Information related to Pearl Company's inventory and purchases accounts at October 31 is given below: October 1 Beginning inventory 400 units @ $9.60 = $ 3,840 8 Purchase 800 units @ $10.40 = 8,320 16 Purchase 600 units @ $10.80 = 6,480 24 Purchase 200 units @ $11.80 = 2,360 Total units and cost ZQQQ units $21,009. a.) Show calculations to determine the cost of ending inventory using the FIFO method assuming 600 units remain in ending inventory. b.) Show calculations to determine Cost of Goods Sold assuming the FIFO method is usedl 0.) Show calculations to determine the cost of ending inventory using the weighted-average method assuming 600 units remain in ending inventory. d.) Show calculations to determine Cost of Goods Sold assuming the weighted-average method is used.
e.) Show calculations to determine the cost of ending inventory using the LIFO method assuming 600 units remain in ending inventory. f.) Show calculations to determine Cost of Goods Sold assuming the LIFO method is used.
