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Novak Corp began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales Purchases
Novak 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 11 9 $68 July 6 July 11 5 $76 July 14 July 21 7 $83 July 27 (a1) Your answer is correct Calculate average cost for each unit. (For calculation and answers purpose round unit costs to 2 decimal places, es. 15.25.) July 1 $ July 6 $ July 11 $ July 14 $ 73 July 21 $ 80 July 27 $ (a2) eTextbook and Media List of Accounts Attempts: unlimited 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, eg 15.25 and ending inventory values to O
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