Question

Pearl Company is a multi product firm. Presented below is information concerning one of its products,...

Pearl Company is a multi product firm. Presented below is information concerning one of its products, the Hawkeye.

Date

Transaction

Quantity

Price/Cost

1/1 Beginning inventory 2,000 $15
2/4 Purchase 3,000 23
2/20 Sale 3,500 38
4/2 Purchase 4,000 29
11/4 Sale 3,200 42
Calculate average-cost per unit. (Round answer to 4 decimal places, e.g. 2.7613.)
Average-cost per unit $

Compute cost of goods sold, assuming Pearl uses: (Round average cost per unit to 4 decimal places, e.g. 2.7631 and final answers to 0 decimal places, e.g. 6,548.)
Cost of goods sold
(a) Periodic system, FIFO cost flow $

(b) Perpetual system, FIFO cost flow $

(c) Periodic system, LIFO cost flow $

(d) Perpetual system, LIFO cost flow $

(e) Periodic system, weighted-average cost flow $

(f) Perpetual system, moving-average cost flow $

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Answer #1

Date Particulars No. of Units Per Unit Total Cost 11 12 1-Jan Beginning Inventory 2,000 13 15 30,000 4-Feb Purchase 14 3,000

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