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Determine the ending inventory under a perpetual inventory

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Reference no: EM132746277

Blossom 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                   5                   $177

July                  6               3

July               11               6                       $191

July                14                 5

July               21                 7                   $202

July                27                 5

Problem 1: Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27.

Problem 2: Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO.

Reference no: EM132746277

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