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Purchases Sales June 1 [email protected] $3.20 June 2 600 @ $5.50 June 3 2,200 @ $3.10 June 6 1,600 @ $5.50 June 7 1,200 @ $3.

Sales 600 @ $5.50 1,600 @ $5.50 1,000 @ $5.50 400 @ $6.00 1,400 @ $6.00 200 @ $6.00 A) Assuming that perpetual inventory records are kept in units only, the ending inventory on a LIFO basis is? B) Assuming that perpetual inventory records are kept in dollars, the ending inventory on a LIFO basis is? C) Assuming that perpetual inventory records are kept in dollars, the ending inventory on a FIFO basis is? D) Assuming that perpetual inventory records are kept in units only, the ending inventory on an average-cost basis, rounded to the nearest dollar is?

 

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