Maurice Tutor

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    Argosy University/ Phoniex University/
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Category > Accounting Posted 11 Aug 2017 My Price 8.00

Pemberton Products

Pemberton Products uses a periodic inventory system. The company's records show the beginning inventory of PH4 oil filters on January 1 and the purchases of this item during the current year to be as follows:

 

           
Jan. 1 Beginning inventory 11 units @ $3.00 $ 33.00
Feb. 23 Purchase 14 units @ $3.50   49.00
Apr. 20 Purchase 31 units @ $3.80   117.80
May 4 Purchase 35 units @ $4.00   140.00
Nov. 30 Purchase 17 units @ $5.00   85.00
   
 
  Totals 108 units   $ 424.80
   
 

 

A physical count indicates 22 units in inventory at year-end.

 

Determine the cost of the ending inventory on the basis of each of the following methods of inventory valuation. (Remember to use periodic inventory costing procedures.) (Round your intermediate and final answers to 2 decimal places. Omit the "$" sign in your response.)

 

 

 

 

 

what is the average cost?

 

fifo?

 

lifo?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 11 Aug 2017 01:08 PM My Price 8.00

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