Please show all work Problem 6-9A (Part Level Submission) Wildhorse Co. began op

Question

Please show all work

Problem 6-9A (Part Level Submission) Wildhorse 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 uly 6 July 11 July 14 July 21 uly 27 13 $115 $123 $132 (a1) Your answer is correct. Calculate average cost for each unit. (For calculation and answers purpose round unit costs to 2 decimal places, e.g. 15.25.) July 1 $ July 6 July 11 s July 14 July 21 s July 27 s 115 115 119.8 119.8 127.55 127.55

Explanation / Answer

FIFO Moving Average LIFO The ending inventory under a perpetual inventory system                     660.00                      637.75      592.00 FIFO Ending Inventory       5*132                           660 Moving Average Ending Inventory       5*127.55                           638 LIFO Ending Inventory       1*132 + 4*115                           592

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