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Cullumber Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date
Cullumber Co. 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 4 $144 July 6 3 July 11 7 $154 July 14 6 July 21 8 $165 July 27 5 Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round answers to 3 decimal places, e.g. $105.501.) Average cost for each unit July 1 $ 144 July 6 $ 144 July 11 $ 152.75 July 14 $ 152.75 July 21 $ July 27 $ Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to 0 decimal places, e.g. 1,250.) FIFO MOVING-AVERAGE The ending inventory under a perpetual inventory system $ $ e Textbook and Media Save for Later Attempts: 0 of 5 used Submit
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