Question

Can someone help me?

Pearl Industries reports the following for the month of June. Date Explanation Units Unit Cost Total Cost June 1 Inventory $5 6 110 362 207 $550 2,172 12 Purchases 23 Purchases 1,449 30 Inventory 240

Answer 1

5 362 240 Periodic: FIFO Goods Purchasd Cost of Goods Sold Inventory Balance Cost of Cost Per cost of Goods # of Units Goods # of Cost Per Ending # of Units Unit Available for sales sold Cost Per Unit Sold Units Unit Inventory Beginning onventory 110 550 110 550 Purchases Jun-12 2172 329 1974 33 198 Jun-23 207 1449 207 1449 Totals 679 4171 439 2524 1647 Periodic : LIFO Goods Purchasd Cost of Goods Sold Inventory Balance Cost of Cost Per cost of Goods # of Units Goods # of Cost Per Ending # of Units Unit Available for sales sold C ost Per Unit Sold Units Unit Inventory Beginning onventory| 110 5 5501 0 50110 5 550 Purchases Jun-12 3621 6 21721 232 6 1392 130 6 780 Jun-23 207 14491 207 7 1449 Totals 679 4171 4391 2841 240 1330

Inventory Balance # of Units Cost Per Ending Unit Inventory sold Periodic : Weighted Average Goods Purchasd Cost of Goods Sold # of Cost Per cost of Goods Cost of # of Units Units Cost Per Unit Goods Unit Available for sales Sold Beginning onventory 110 550 Purchases Jun-12362 2172 Jun-23 207 1449 Totals 679 6.143 4171 439 6.143 2697 240 6.143 1474 Weighted Average Unit Cost = (4171/679) 6.143 FIFO | 1647 Ending invveotry Cost of Goods sold LIFO 1330 2841 Average Cost 1474 2697 2524