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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 Date
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 Sales Units Unit Cost $ 140 July 1 4 July 6 3 July 11 7 $ 150 July 14 6 July 21 8 $ 161 July 27 5 (a1) Your answer is correct. Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to decimal places and final answers to 3 decimal places, e.g. $105.501.) Average cost for each unit July $ 140 July 6 $ $ 140 July 11 $ 148.75 July 14 $ 148.75 July 21 $ 158.55 July 27 $ 158.55 (a2) Your answer is incorrect. 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 MOVING-AVERAGE LIFO der a perpetual inventory system $ e Textbook and Media
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