Pearl Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $26 per unit. None of this inventory was sold in 2016. Relevant information is as follows. Ending inventory units December 31, 2016 132 December 31, 2017, by purchase date December 2, 2017 132 July 20, 2017 50 182 During the year 2017, the following purchases and sales were made. Purchases Sales March 15 332 units at $31 April 10 232 July 20 332 units at 32 August 20 332 September 4 232 units at 36 November 18 182 December 2 132 units at 38 December 12 232 The company uses the periodic inventory method.

1. Calculate average-cost per unit.

2. Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost.

3. Calculate price index.

4. Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2017, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $26 per unit.)