Wittmann 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		5		$122
July 6						3
July 11		7		$136
July 14						5
July 21		8		$147
July 27						5

a. Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving average cost, and (3) LIFO.

b. Which costing method produces the highest ending inventory valuation?