Exercise 6-16 a-c

Sunland Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was3sets at $404each. On January 10, Sunland purchased6units at $600each. The company sold2units on January 8 and5units on January 15.

Compute the ending inventory under moving-average cost.(Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, e.g. 1,250.)

FIFO

The ending inventory $1200

LIFO

The ending inventory $1004

MOVING-AVERAGE COST

The ending inventory $ i came up with $1069.33, but that was wrong