Problem 6-9A Wittmann Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and...

Problem 6-9A

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

July15$122July63July117$136July145July218$147July275

Your answer is incorrect. Try again.  Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round answers to 2 decimal places, e.g. $105.50.)

Average cost for each unit

July1$

 July6$

 July11$

 July  14$

 July21$

 July27$

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Your answer is incorrect. Try again.  Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round average-cost per unit to 2 decimal places, e.g. 12.52 and final answer to 0 decimal places, e.g. 1,250.)

FIFO

MOVING-AVERAGE

LIFO

The ending inventory under a perpetual inventory system$

$

$

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Your answer is incorrect. Try again.  Which costing method produces the highest ending inventory valuation?

LIFO method

Averag-cost method

FIFO method