6-5

Splish Brothers Inc. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units July 1 7 $68 July 6 5 July 11 3 $73 July 14 3 July 21 4 $78 July 27 3 your answer is incorrect. Try again. Calculate average cost for each unit. (For calculation and answers purpose round unit costs to 2 decimal places, e.g. 15.25.) July 1 July 6 July 11 July 14 July 21 July 27 Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO. (For calculation and answers purpose round unit costs to 2 decimal places, e.g. 15.25 and ending inventory values to decimal places, e.g. 515.) FIFO MOVING-AVERAGE LIFO The ending inventary under a perpetual inventary system