$*$P$6\mathrm{.}9($LO $5)$ Determine ending inventory under a perpetual inventory system.

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.

$\backslash$table$[[,$Purchases,$],[$Date$,$Units,Unit cost,Sales Units$],[$May $1,7,$$$4,600,],[4,,,4],[8,8,$$$5,100,],[12,6,,5],[15,,,5,520],[20,,,5],[25,,,5]]$

Instructions

a$.$ Determine the ending inventory under a perpetual inventory system using $(1)$ FIFO and $(2)$ moving$-$average cost.

b$.$ Which costing method produces $(1)$ the higher ending inventory valuation and $(2)$ the lower ending inventory valuation?