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

(a) Determine the ending inventory under a perpetual inventory system using (1) FIFO,
(2) moving-average cost, and (3) LIFO.
(b) Which costing method produces the highest ending inventoryvaluation?
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