PSAS.6 Determine ending inventory under a perpetual inventory system. LO9 Fontana Ltd began operations on 1 July. It uses a perpetual inventory system. During July the business had the following purchases and sales. Purchases Date Unit cost S 95 106 112 Units Sales units July 1 6 3 14 21 27 3 Required (a) Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) average cost and (3) LIFO (b) Which costing method produces the highest cost allocation to ending inventory