Parker Company uses a perpetual inventory system. It entered into the following calendar-year 2005?

Question

Purchases and sales transactions:

Alternative cost flows—perpetual

Jan. 1 Beginning inventory . . . . . . . 600 units @ $44/unit

Feb. 10 Purchase . . . . . . . . . . . . . . . 200 units @ $40/unit

Mar. 13 Purchase . . . . . . . . . . . . . . . 100 units @ $20/unit

Mar. 15 Sales . . . . . . . . . . . . . . . . . . 400 units @ $75/unit

Aug. 21 Purchase . . . . . . . . . . . . . . . 160 units @ $60/unit

Sept. 5 Purchase . . . . . . . . . . . . . . . 280 units @ $48/unit

Sept. 10 Sales . . . . . . . . . . . . . . . . . . 200 units @ $75/unit

Totals . . . . . . . . . . . . . . . . . 1,340 units 600 units

You mentioned to another member that you have an excel spreadsheet. If you could e-mail it to me at [e-mail], I would very much appreciate it! Thanks!

Answer 1

I've sent the Excel file to you.