2024 – Lyon Center began operations on July 1 It uses a perpetual inventory system During July the company had

Lyon Center began operations on July 1. It uses a perpetual inventory system. During July, the company had 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 2 decimal places, e.g. 15.25 and ending inventory values to 0 decimal places, e.g. 515.)

		Purchases
Date		Units		Unit Cost		Sales Units
July 1		7		$62
July 6						5
July 11		3		$66
July 14						3
July 21		4		$71
July 27						3