Inventory Costing MethodsPerpetual System (Appendix)

The following information is available concerning Stillwater Inc.:

	Units	Unit Cost
Beginning inventory	207	$11
Purchases:
March 5	297	12
June 12	401	13
August 23	247	14
October 2	150	16

Stillwater, which uses a perpetual system, sold 998 units for $25 each during the year. Sales occurred on the following dates:

	Units
February 12	148
April 30	200
July 7	204
September 6	296
December 3	150

Required:

1. Calculate ending inventory and cost of goods sold for each of the following three methods: In your calculations, round average unit cost to three decimal places. Round all other calculations and your final answers to the nearest dollar.

Cost Flow Assumption

Ending Inventory

Cost of Goods Sold

Cost Flow Assumption	Ending Inventory	Cost of Goods Sold
a. Moving average	$	$
b. FIFO	$	$
c. LIFO	$	$