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Sunland Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.
Sunland 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$150July63July116$164July145July217$175July275
Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round average-cost per unit to 2 decimal places, e.g. 12.52 and final answer to 0 decimal places, e.g. 1,250.)
FIFO
MOVING-AVERAGE
LIFO
The ending inventory under a perpetual inventory system$
$
$
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