Lyon Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.

a. Calculate the average cost for each unit.

b. Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO.

Purchases Date Units Unit Cost Sales Units July 1 July 6 July 11 July 14 July 21 July 27 7 $62 $66 4 $71 Calculate average cost for each unit. (For calculation and answers purpose round unit costs to 2 decimal places, e.g. 15.25.) July 1 s July 6 July 11 July 14 July 21 July 27 s