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How do you determine the LIFO, FIFO and Moving average? Sarasota Corp. began operations on July 1. It uses a perpetual inventory system. During July,

How do you determine the LIFO, FIFO and Moving average?

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Sarasota Corp. 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 13 $116 July 6 9 July 11 6 $123 July 14 6 July 21 7 $133 July 27 6 v (a1) Your answer is correct. Calculate average cost for each unit. (For calculation and answers purpose round unit costs to 2 decimal places, e.g. 15.25.) July 1 116.00 July 6 116.00 KAu|y6 116.00 i W 11 120.20 \"In I +5- le 14 120.20 I! My 21 128.35 My 27 128.36 In lick if you would like to Show Work for this question: Open Show Work ~ ( 2 2 ) 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 O decimal places , e . g. 515. ) FIFO MOVING - AVERAGE LIFO The ending inventory under a perpetual inventory system* $ Click if you would like to Show Work for this question :* Open Show Work

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