Menu

### 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…

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

July15\$122July63July117\$136July145July218\$147July275

Your answer is incorrect. Try again.  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

July1\$

July6\$

July11\$

July  14\$

July21\$

July27\$

LINK TO TEXT

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

The ending inventory under a perpetual inventory system\$

\$

\$

LINK TO TEXT

Your answer is incorrect. Try again.  Which costing method produces the highest ending inventory valuation?

LIFO method

Averag-cost method

FIFO method