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Stellar began operations on February 1. It uses a perpetual inventory system. During February, the company had the following purchases and sales. Purchases Date Units
Stellar began operations on February 1. It uses a perpetual inventory system. During February, the company had the following purchases and sales.
Purchases | ||||||
Date | Units | Unit Cost | Sales Units | |||
Feb. 1 | 12 | $108 | ||||
Feb. 6 | 9 | |||||
Feb. 11 | 8 | $126 | ||||
Feb. 14 | 5 | |||||
Feb. 21 | 6 | $142 | ||||
Feb. 27 | 4 |
Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO. (Round average cost per unit to 3 decimal places, e.g. 1.286 and final answers to 0 decimal places, e.g. 5,125.)
FIFO | Moving-Average | LIFO | ||||
Ending inventory | $ | $ | $ |
Which costing method produces the highest ending inventory valuation?
method produces the highest ending inventory valuation.
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