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Oriole Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases
Oriole Co. 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 4 $140 July 6 3 July 11 7 $150 July 14 6 July 21 8 $161 July 27 5 (a1) (a2) Your answer is partially correct. Determine the ending inventory under a perpetual inventory system using (1) FIFO. (2) moving-average cost, and (3) LIFO. (Round average-cost per unit to 3 decimal places, e.g. 12.520 and final answer to O decimal places, e.g. 1,250.) FIFO erpetual inventory system $ 805 MOVING-AVERAGE LIFO 793 $
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