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Terando Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Date Unit
Terando Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.
Date | Unit | Unit Cost | Sales Units |
Jul 1 | 55 | 128 | |
Jul 6 | 44 | ||
Jul 11 | 77 | 145 | |
Jul 14 | 33 | ||
Jul 21 | 88 | 155 | |
Jul 27 | 66 |
Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO.
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