INTRO TO FINANCIAL ACCOUNTING NAME: STUDY PROGRAM: QUIZ 3- CHAPTER 6 AND CHAPTER 7 CHAPTER 6: Dominican Appliance Mart began operations on May 1. It uses a perpetual inventory system. During May, the company had the following purchases and sales for its Model 25 Sureshot camera. DATE PURCHASES SALES UNITS UNITS UNIT COST 4 4 8 12 5 15 20 3 25 5 a. Determine the ending inventory under a perpetual inventory system using (1) FIFO and (2) moving-average cost b. Which costing method produces (1) higher ending inventory valuation and (2) lower ending inventory valuation