Using the data in P6-8B, assume that Cracker Corporation uses the perpetual inventory system. Calculate the value of ending inventory and cost of goods sold for the year using the perpetual method and

(a) first-in, first-out,

(b) last-in, first-out,

(c) weighted-average cost method. 

Round the cost per unit to 3 decimal places and round your final answers to the nearest dollar. If the net realizable value of the inventory at year-end is \(\$ 25\), how will the cost of goods sold under each method be affected?

Problem P6-8B

The following data are for the Cracker Corporation, which sells just one product:

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Units Unit Cost Beginning inventory, January 1 1,200 $18 Purchases February 11 1,500 19 May 18... 1,400 October 23 1,100 22 20 23 Sales March 1... 1,400 July 1 1,400 October 29 1,000