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The Geewhiz Company Uses the Perpetual Inventory System Determine the Cost of the Ending Inventory Using the Following

Question 73

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The Geewhiz Company uses the perpetual inventory system. The Geewhiz Company has the following data available for the month of January:
 Date  Transaction  Units  Unit Cost  Jan. 1  Beginning inventory 200$2.00 Jan. 9 Purchase 300$2.20 Jan. 10  Sale 400 Jan. 15  Purchase 400$2.30 Jan. 18  Sale 300 Jan. 24 Purchase 100$2.40 Jan. 30  Sale 10\begin{array} { | l | l | l | l | } \hline \text { Date } & \text { Transaction } & \text { Units } & \text { Unit Cost } \\\hline \text { Jan. 1 } & \text { Beginning inventory } & 200 & \$ 2.00 \\\hline \text { Jan. } 9 & \text { Purchase } & 300 & \$ 2.20 \\\hline \text { Jan. 10 } & \text { Sale } & 400 & \\\hline \text { Jan. 15 } & \text { Purchase } & 400 & \$ 2.30 \\\hline \text { Jan. 18 } & \text { Sale } & 300 & \\\hline \text { Jan. } 24 & \text { Purchase } & 100 & \$ 2.40 \\\hline \text { Jan. 30 } & \text { Sale } & 10 & \\\hline\end{array}
Determine the cost of the ending inventory using the following methods:
a. FIFO
b. LIFO
c. Moving-average (Round per unit costs to four decimal places and all other dollar amounts to two decimal places.)

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a. FIFO
FIFO periodic is the same as FIF...

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