Fontana Co. began operations on July 1. It uses

Fontana Co. began operations on July 1. It uses

Purchases Date Units Unit Cost Sales Units July 1 July 6 July 11 July 14 July 21 July 27 $120 $136 8. $147


Instructions
(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?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...

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