Question: Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10,

Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $600 each. On January 10, Bufford purchased 6 units at $660 each. The company sold 2 units on January 8 and 4 units on January 15.

Instructions

Compute the ending inventory under

(1) FIFO,

(2) LIFO,

(3) moving-average cost.

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