Falco Co. began operations on July 1. It uses a perpetual inventory system. During July the company
Question:
Falco 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) average-cost, and (3) LIFO.
(b) Which costing method produces the highest ending inventory valuation?
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Related Book For 
Accounting Principles
ISBN: 9780471980193
8th Edition
Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel
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