Reference no: EM132679426

The Big Rig Company, a multi-product firm, presented the information below concerning one of their products:

Date          Transaction             Quantity               Cash
1/1          Beginning Inventory    1,000                 P 12
2/4          Purchase                   2,000                 18
2/20         Sale                          2,500
4/2         Purchase                  3,000                22
11/4         Sale                       2,000

Requirement:

Problem 1: Compute the cost of ending inventory, assuming that Big Rig uses:

a. Periodic system, FIFO cost method;
b. Perpetual system, FIFO cost method;
c. Periodic system, average-cost method; and
d. Perpetual system, moving-average-cost method