Dollar Saver Center began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales.
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| Date | Units | Unit Cost | Sales Units |
| Jul-01 | 7 | $47 | |
| Jul-06 | 3 | ||
| Jul-11 | 5 | $50 | |
| Jul-14 | 4 | ||
| Jul-21 | 3 | $54 | |
| Jul-27 | 2 | ||
Instructions
(a) Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average, and (3) LIFO. (Note:For moving-average, round cost per unit to three decimal places.)
(b) Which costing method produces the highest ending inventory valuation?
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