Solution-Determine ending inventory under perpetual

Determine ending inventory under perpetual inventory system

Reference no: EM132072421

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

Date	Purchases		Sales Units
Date	Units	Unit Cost	Sales Units
July 1	125	$122
July 6			75
July 11	175	$136
July 14			125
July 21	200	$147
July 27			125

Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27.

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

Which costing method produces the highest ending inventory valuation?

Reference no: EM132072421

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Determine ending inventory under perpetual inventory system

Reference no: EM132072421

Reference no: EM132072421

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