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Ending inventory under perpetual inventory system. Ivanhoe Co. began operations on July 1 . It uses a perpetual inventory system. During July, the company had
Ending inventory under perpetual inventory
Ivanhoe Co. began operations on July 1 . It uses a perpetual inventory system. During July, the company had the following purchases and sales. Calculate the average cost per unit at July 1,6,11,14,21&2 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 cost, and (3) LIFO. (Round average-cost per unit to 2 decimal places, eg. 12.52 and final answer to 0 decimal places, eg. 1,250 system.
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