Question - Lambert Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.
Purchases Table
Date - Units - Unit Cost - Sales Units
July 1 12 units $105
July 6 8 sales units
July 11 5 units $111
July 14 5 sales units
July 21 7 units $120
July 27 5 sales units
Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO.