Question: Problem 6-9A Wittmann Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.
Problem 6-9A Wittmann Co. began operations on July 1. It uses a perpetual inventory system.
During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units July 1 245 $122 July 6 147 July 11 343 $136 July 14 245 July 21 392 $147 July 27 245 Partially correct answer. Your answer is partially 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 $ Entry field with correct answer July 6 $ Entry field with correct answer July 11 $ Entry field with incorrect answer July 14 $ Entry field with incorrect answer July 21 $ Entry field with incorrect answer July 27 $ Entry field with incorrect answer
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 The ending inventory under a perpetual inventory system $
$ Entry field with incorrect answer $
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