Please do not give solution in image format thanku Crane Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases andsales.DateJuly1UnitsPurchases56UnitCost7$140July 6July 11July 14July 21July 27Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO.$154SalesUnits$165355

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Description: Please do not give solution in image format thanku Crane Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases andsales.DateJuly1UnitsPurchases56UnitCost7$140July 6July 11July 14Jul

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Crane Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Date July July 6 July 11 July 14 July 21 1 Units Purchases 5 6 7 Unit Cost $140 $154 $165 Sales Units 3 5 July 27 Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27 Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. 5

Crane Co. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Date July July 6 July 11 July 14 July 21 1 Units Purchases 5 6 7 Unit Cost $140 $154 $165 Sales Units 3 5 July 27 Calculate the average cost per unit at July 1, 6, 11, 14, 21 & 27 Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving-average cost, and (3) LIFO. 5

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter13A: Perpetual Inventory Method: Lifo And Moving-average Methods

Section: Chapter Questions

Problem 2SPA: PERPETUAL: LIFO AND MOVING-AVERAGE Kelley Company began business on January 1, 20-1. Purchases and...

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