Problem 6-9A Farman Appliance Mart began operations on May 1. It uses a perpetual inventory system. During May, the company had the following purchases and sales for its Model 25 Sureshot cam

Problem 6-9A

Farman Appliance Mart began operations on May 1. It uses a perpetual inventory system. During May, the company had the following purchases and sales for its Model 25 Sureshot camera.

Purchases

Date Units Unit Cost Sales Units

May 1 210 \$153

May 4 120

May 8 240 \$173

May 12 150

May 15 180 \$188

May 20 90

May 25 120

(a1)

Calculate the average cost per unit at May 1, 4, 8, 12, 15, 20 & 25. (Round answers to 3 decimal places, e.g. \$105.252.)

Average cost for each unit

May 1 \$ 153

May 4 \$ 153

May 8 \$ 167.545

May 12 \$ 167.545

May 15 \$ 177.772

May 20 \$ 177.772

May 25 \$ 177.772

(a2)

Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. (Round answers to 0 decimal places, e.g. \$2,150.)

The ending inventory under a perpetual inventory system \$ \$ \$

1) FIFO

2)MOVING-AVERAGE

3)LIFO