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 1 203 $141 May 4 116 May 8 232 $161 May 12 145 May 15 174 $176 May 20 87 May 25 116 (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 $141 May 4 $141 May 8 $155.545 May 12 $155.545 May 15 $165.
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??203??$141????May 4??????116??May 8??232??$161????May 12??????145??May 15??174??$176????May 20??????87??May 25??????116?? ?HYPERLINK “javascript:void(0)”? (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??$141 ?? ????May 4??$141 ?? ????May 8??$155.545 ?? ????May 12??$155.545 ?? ????May 15??$165.773 ?? ????May 20??$165.773 ?? ????May 25??$165.773 ?????? (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 FIFO MOVING AVERAGE LIFO $ $ $
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