View Policies Current Attempt in Progress Crane Co. began operations on July 1. It uses a...

Transcribed Image Text:

View Policies Current Attempt in Progress Crane Co. 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 4 $140 July 6 3 July 11 7 $150 July 14 6 July 21 B $161 July 27 5 (a1) Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to O decimal places and final answers to 3 decimal places, eg. 5105.501) s (a1) Calculate the average cost per unit at July 1. 6. 11. 14,21 & 27. (Round intermediate calculations to O decimal places and final answers to 3 decimal places eg $105501) Average cost for each unit- July 1 $ July 6 July 11 $ July 14 $ July 21 $ July 27 $ eTextbook and Media Save for Later (x2) Attempts: 0 of 5 used Submit Annaan 3 (2) Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving average cost, and LIFO Round average-cost per unit to 3 decimal places, eg 12.520 and final answer to 0 decimal places, es 1.250) The ending inventory under a perpetual inventory system eTextbook and Media (b) Which costing method produces the highest ending inventory? eTextbook and Media Mathe Late FIFO MOVING AVERAGE Attempts 0 of 5 us Attempts 0 of 5 used A View Policies Current Attempt in Progress Crane Co. 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 4 $140 July 6 3 July 11 7 $150 July 14 6 July 21 B $161 July 27 5 (a1) Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round intermediate calculations to O decimal places and final answers to 3 decimal places, eg. 5105.501) s (a1) Calculate the average cost per unit at July 1. 6. 11. 14,21 & 27. (Round intermediate calculations to O decimal places and final answers to 3 decimal places eg $105501) Average cost for each unit- July 1 $ July 6 July 11 $ July 14 $ July 21 $ July 27 $ eTextbook and Media Save for Later (x2) Attempts: 0 of 5 used Submit Annaan 3 (2) Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving average cost, and LIFO Round average-cost per unit to 3 decimal places, eg 12.520 and final answer to 0 decimal places, es 1.250) The ending inventory under a perpetual inventory system eTextbook and Media (b) Which costing method produces the highest ending inventory? eTextbook and Media Mathe Late FIFO MOVING AVERAGE Attempts 0 of 5 us Attempts 0 of 5 used A