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Cullumber Company began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Units Unit Cost Sales Units $110 July 1 July 6 July 11 July 14 July 21 July 27 6 $137 Your answer is correct. Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round answers to 3 decimal places, eg. $105.251.) Average cost for each unit 110 July 1$ July 6 $ 110 July 11 $ 123.714 July 14 $ 123.714 July 21 $ 130.961 July 27 $ 130.961 eTextbook and Media - 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, eg. 12.521 and final answer to decimal places, eg. 1,250.) FIFO MOVING-AVERAGE LIFO The ending inventory under a perpetual inventory system $ 822 822 e Textbook and Media x Your answer is incorrect. Which costing method produces the highest ending Inventory valuation? LIFO method