Pearl Industries had a beginning inventory of 93 units of Product RST at a cost of $8 per unit. During the year, purchases were:
| Feb. 20 |
589 |
units at |
$9 |
Aug. 12 |
425 |
units at |
$11 |
| May 5 |
480 |
units at |
$10 |
Dec. 8 |
92 |
units at |
$12 |
Pearl Industries uses a periodic inventory system. Sales totaled 1,525 units.
(a) Determine the cost of goods available for sale.
(b) Calculate Average Cost. (Round answer to 3 decimal places, e.g. 5.125.)
(b) Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average-cost). (Round answers to 0 decimal places, e.g. 150.)