Sunland Company began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.

Sunland Company began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Sales Units Units Unit Cost Date $110 July 1 12 July 6 July 11 $117 July 14 $126 July 21 July 27 Calculate average cost for each unit. (For calculation and answers purpose round unit costs to 2 decimal places, e.g. 15.25.) July 1 July 6 July 11 July 14 July 21 July 27 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 2 decimal places, e.g. 15.25 and ending inventory values to 0 decinal places, e.g. 515.) FIFO LIFO MOVING AVERAGE The ending inventory under a perpetual inventory system Which costing method produces the highest ending inventory valuation? method produces the highest ending inventory valuation