Using the information in Exercise 16-5, assume that Landor Office Supplies records inventory on a perpetual basis and calculate the cost of the ending inventory under each of the following methods: moving-average-cost and last-in, first-out. (Round all computations to two decimal places.)
In Exercise 16-5, Landor Office Supplies records inventory on a periodic basis and has a July beginning inventory of model 77 desk lamps consisting of 188 units at $ 84.50 each. Purchases and sales during July are as follows:
July 5 Sold 15 units.
12 Purchased 12 units @ $ 86 each.
14 Sold 18 units.
25 Purchased 25 units @ $ 88 each.
30 Sold 19 units.