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	75	$122
July	6	45
July	11	105	$136
July	14	75
July	21	120	$147
July	27	75

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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	$

July	6	$

July	11	$

July	14	$

July	21	$

July	27	$

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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	$	$	$

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Which costing method produces the highest ending inventory valuation?

LIFO methodAverag-cost methodFIFO method

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