E6-15 Klugman Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory
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E6-15 Klugman Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Klugman purchased 6 units at $660 each. The company sold 2 units on January 8 and 4 units on January 15.
Instructions Compute the ending inventory under (1) FIFO, (2) LIFO, and (3) average-cost.
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