Question Details

(Solved by Expert Tutors) Pearl Industries had a beginning inventory of?93?units of Product RST at


year, purchases were:


Feb. 20589units at$9Aug. 12425units at$11
May 5480units at$10Dec. 892units at$12


Pearl Industries uses a periodic inventory system. Sales totaled?1,525?units.


a)?Determine the cost of goods available for sale.
The cost of goods available for sale$

(b)?Calculate Average Cost.?(Round answer to 3 decimal places, e.g. 5.125.)
Average Cost$

(b) Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost).?(Round answers to 0 decimal places, e.g. 150.)

FIFO LIFO AVERAGE-COST
The ending inventory$ $ $
The cost of goods sold$ $

$

Step-by-step answer

ec facilisis. Pellentesque dapibus efficitur laoreet. Nam risus a

3.xlsx

onec aliqup, dictum vice dui lectus, congipiscing elit. Nam laciniaFuscce duiamet,ctum vdictum vitaeac, dFuscefficitur laoreet. Nam risus ante, dapibus alests ant, dic, dictum

Subscribe to view the full answer

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We?ve got course-specific notes, study guides, and practice tests along with expert tutors.

  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors?available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question