Question

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


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


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  • CreatedMarch 02, 2015
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