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Splish Brothers Inc. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.
Splish Brothers Inc. 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 7 $68 July 6 July 11 $73 July 14 3 July 21 $78 July 27 (a2) 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 3 decimal places, eg. 15.125 and ending inventory values to O decimal places, eg. 515.) The ending inventory under a perpetual inventory system FIFO MOVING AVERAGE LIFO
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