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Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $650 each. On January 10,
Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $650 each. On January 10, Bufford purchased 8 units at $690 each. The company sold 3 units on January 8 and 4 units on January 15. Compute the ending inventory under FIFO, LIFO, and under moving-average cost.
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