Cullumber Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following pur and sales. Date July 1 July July 11 July 14 July 21 July 27 6 Purchases Units Unit Cost $130 5 6 7 $144 $155 Sales Units 3 5 5

Cullumber Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following pur and sales. Date July 1 July July 11 July 14 July 21 July 27 6 Purchases Units Unit Cost $130 5 6 7 $144 $155 Sales Units 3 5 5

Name: (a2)Determine the ending inventory under a perpetual inventory system
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Description: (a2)Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Roundaverage-cost per unit to 3 decimal places, e.g. 12.520 and final answer to O decimal places, e.g. 1,250.)The ending in

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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