Novak Corp. began operations on July 1. It uses a perpetual inventory system. During July, the company had the following purchases and sales. Purchases Date Units Unit Cost Sales Units
July 1 9 $81
July 6 7
July 11 4 $86
July 14 4
July 21 5 $92
July 27 4

Calculate average cost for each unit.

July 1 $
July 6 $
July 11 $
July 14 $
July 21 $
July 27 $

Required:
Determine the ending inventory under a perpetual inventory system using (1) FIFO, (2) moving average, and (3) LIFO.

FIFO MOVING-AVERAGE LIFO
The ending inventory under a perpetual inventory system $ $ $

Cash flows during the first year of operations for the harman-kardon consulting company were as follows: cash collected from customers, $360,000; cash paid for rent, $44,000; cash paid to employees for services rendered during the year, $124,000; cash paid for utilities, $54,000.in addition, you determine that customers owed the company $64,000 at the end of the year and no bad debts were anticipated. also, the company owed the gas and electric company $2,400 at year-end, and the rent payment was for a two-year period.calculate accrual net income for the year.