### Determine ending inventory under perpetual inventory system

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Farman Appliance Mart began operations on May 1. It uses a perpetual inventory system. During May, the company had the following purchases and sales for its Model 25 Sureshot camera.

 Purchases Date Units Unit Cost Sales Units May 1 203 \$141 May 4 116 May 8 232 \$161 May 12 145 May 15 174 \$176 May 20 87 May 25 116

(a1) Calculate the average cost per unit at May 1, 4, 8, 12, 15, 20 & 25.

 Average cost for each unit May 1 \$141 May 4 \$141 May 8 \$155.545 May 12 \$155.545 May 15 \$165.773 May 20 \$165.773 May 25 \$165.773

(A2)

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

FIFO                                      MOVING AVERAGE            LIFO

\$                                           \$                                         \$

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