Question: July 1 Beginning inventory 10 units at $ 90 5 Purchases 60 units @ $ 84 14 Sale 45 units 21 Purchases 30 units @

July 1 Beginning inventory 10 units at $ 90

5 Purchases 60 units @ $ 84

14 Sale 45 units

21 Purchases 30 units @ $ 87

30 Sale 30 units

Assuming that a perpetual inventory system is used, what is the ending inventory on a FIFO basis?

A)

$2,748

B)

$2,754

C)

$2,175

D)

$5,796

Assuming that a perpetual inventory system is used, what is the ending inventory on a LIFO basis?

A)

$2,748

B)

$2,754

C)

$2,160

D)

$5,796

Assuming that a perpetual inventory system is used, what is the ending inventory (rounded) under the average-cost method?

A)

$2,750

B)

$2,151

C)

$2,406

D)

$2,772

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