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Prepare schedule to compute the ending inventory

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Question - Pearl Company was formed on December 1, 2016. The following information is available from Pearl's inventory records for Product BAP.

Units

Unit Cost

January 1, 2017 (beginning inventory)

696

$ 6.00

Purchases:

January 5, 2017

1,392

7.00

January 25, 2017

1,508

8.00

February 16, 2017

928

9.00

March 26, 2017

696

10.00

A physical inventory on March 31, 2017, shows 1,856 units on hand.

Prepare schedule to compute the ending inventory at March 31, 2017, under LIFO inventory method.

Reference no: EM131702753

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