Question: Instructions: a) Determine the ending inventory under a perpetual inventory system using (1) FIFO and (2) moving-average cost. (You must show your workings and round

Instructions: a) Determine the ending inventory under a perpetual inventory system

Instructions:

a) Determine the ending inventory under a perpetual inventory system using (1) FIFO and (2) moving-average cost. (You must show your workings and round to two decimal places)

b) Determine the ending inventory and COGS under the periodic inventory system using (1) FIFO and (2) weighted average. Round to two decimal places.

*P6-9A Dominican Appliance Mart began operations on May 1. It uses a perpetual inven- tory system. During May, the company had the following purchases and sales for its Model 25 Sureshot camera. Purchases Date Units Sales Units May 1 4 8 12 15 20 25 Unit Cost NT$4,600 NT$5,100 NT$5,520 4 8 6

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