Question: Please help! I am so stuck on this ending inventory under a perpetual inventory system question: Problem 6-09A a1-a2, b (Part Level Submission) Cullumber Co.
Please help! I am so stuck on this ending inventory under a perpetual inventory system question:


Problem 6-09A a1-a2, b (Part Level Submission) Cullumber Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Units Unit Cost Sales Units Date July 1 $130 5 July 6 July $144 11 6 July 14 5 July $155 21 7 July 27 5 (a1) Your answer is correct. Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27. (Round answers to 2 decimal places, e.g. $105.50.) Average cost for each unit July 1 130 July 6 130 140.50 July 11 140.50 July 14 July 21 150.65 150.65 July 27 (a2) X Your answer is incorrect. Try again Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round average-cost per unit to 2 decimal places, e.g. 12.52 and final answer to 0 decimal places, e.g. 1,250.) FIFO MOVING-AVERAGE LIFO 930 9702 The ending inventory under a perpetual inventory system 903.9 Open Show Work Click if you would like to Show Work for this question: LINK TO X Attempts: 1 of 5 used
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
