Question: Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 5 sets at $625 each. On January 10,

Bufford Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 5 sets at $625 each. On January 10, Bufford purchased 6 units at $725 each. The company sold 3 units on January 8 and 4 units on January 15.

Compute the ending inventory under LIFO. (Round answer to 0 decimal places, e.g. 1,250.)

Compute the ending inventory under moving-average cost. (Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, e.g. 1,250.)

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