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Terando Center began operations on July 1 . It uses a perpetual inventory system. During the
month of July, Terando company made the following purchases and sales. Determine the ending
inventory under a perpetual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO.
(For calculation and answers purpose round unit costs to 3 decimal places, e.g. 15.251 and
ending inventory values to 0 decimal places, e.g. 515.)

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  • 1. Terando Center began operations on July 1 . It uses a perpetual inventory system. During the month of July, Terando company made the following purchases and sales. Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO. (For calculation and answers purpose round unit costs to 3 decimal places, e.g. 15.251 and ending inventory values to 0 decimal places, e.g. 515.)