Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Pearl Company was formed on December 1, 2016. The following information is available from Pearl's inventory records for Product BAP Units Unit Cost $6.00 January
Pearl Company was formed on December 1, 2016. The following information is available from Pearl's inventory records for Product BAP Units Unit Cost $6.00 January 1,2017 (beginning inventory) Purchases: 618 January 5,2017 January 25,2017 February 16, 2017 March 26, 2017 1,236 1,339 824 618 7.00 8.00 9.00 10.00 A physical inventory on March 31, 2017, shows 1,648 units on hand. Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method. PEARL COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER FIFO INVENTORY METHOD March 31,2017 Units Unit Cost Total Cost Purchases January 25, 2017 Purchases February 16,2017 Purchases March 26,2017 Ending Inventory Prepare schedule to compute the ending inventory at March 31, 2017, under LIFO inventory method. PEARL COMPANY COMPUTATION OF INVENTORY FOR PRODUCT BAP UNDER LIFO INVENTORY METHOD March 31, 2017 Units Unit Cost Total Cost Calculate average-cost per unit. (Round answer to 2 decimal places,e.g. 2.76.) Weighted average-cost per unit$ Compute the ending inventory at March 31, 2017, under Weighted-average inventory method. (Round answer to O decimal places, eg. 2,760.) Weighted-Average Ending Inventory at March 31, 2017 $
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started