Problem $1$:

Paula$$s Parkas sells NorthPlace jackets. At the beginning of the year, Paula$$s had twenty jackets in stock, each costing $$35$ and selling for $$60.$ The following table details the purchases and sales made during January:

Date Number of Items Cost per Item

January $2$ Purchased $12$ $$36\mathrm{.}00$

January $8$ Purchased $1036\mathrm{.}50$

January $10$ Sold $15$

January $17$ Sold $14$

January $22$ Purchased $837\mathrm{.}00$

January $28$ Sold $10$

Problem $2$:

$1.$ Assume the same facts as in problem $7$ above, but that Paula$$s Parkas uses the perpetual LIFO method.

$1.$ Show the journal entries and T accounts needed to record the transactions during January.

$2.$ Determine Paula$$s Parkas cost of goods sold and ending inventory for January.

$3.$ Determine Parka$$s gross profit for January.

Problem $3$:

$1.$ Assume the same facts as in problem $7$ above, but that Paula$$s Parkas uses the moving average method.

$1.$ Show the journal entries and the T accounts needed to record the transactions during January.

$2.$ Determine Paula$$s Parkas cost of goods sold and ending inventory for January.

$3.$ Determine Parka$$s gross profit for January.