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Ivanhoe Company began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales Calculate average
Ivanhoe Company began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales Calculate average cost for each unit. (For calculation and answers purpose round unit costs to 2 decimal places, e.g. 15.25.) 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 decimal places, e.g. 515.)
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