Pearl Industries uses a periodic inventory system and reports the following for the month of June.

  

Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost.

Transcribed Image Text:

Date Explanation Units Unit Cost June 1 Inventory $4 12 Purchases 23 30 Purchases Inventory 130 520 325 305 6 8 Total Cost $520 3,120 2,600 Date Explanation Units Unit Cost June 1 Inventory $4 12 Purchases 23 30 Purchases Inventory 130 520 325 305 6 8 Total Cost $520 3,120 2,600

Answer rating: 100% (QA)

130452083258 52031202600 6240 Weighted average unit cost FIFO The co... View the full answer