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

Essay

The Geewhiz Company uses the perpetual inventory system. The Geewhiz Company has the following data available for the month of January:
$$\begin{array} { | l | l | l | l | } \hline \text { Date } & \text { Transaction } & \text { Units } & \text { Unit Cost } \\\hline \text { Jan. 1 } & \text { Beginning inventory } & 200 & \$ 2.00 \\\hline \text { Jan. } 9 & \text { Purchase } & 300 & \$ 2.20 \\\hline \text { Jan. 10 } & \text { Sale } & 400 & \\\hline \text { Jan. 15 } & \text { Purchase } & 400 & \$ 2.30 \\\hline \text { Jan. 18 } & \text { Sale } & 300 & \\\hline \text { Jan. } 24 & \text { Purchase } & 100 & \$ 2.40 \\\hline \text { Jan. 30 } & \text { Sale } & 10 & \\\hline\end{array}$$
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.)