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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$ 6.00Purchases:
January 5, 20171,3927.00
January 25, 20171,5088.00
February 16, 20179289.00
March 26, 201769610.00
A physical inventory on March 31, 2017, shows 1,856 units on hand.
Required - Prepare schedule to compute the ending inventory at March 31, 2017, under FIFO inventory method.
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