Question

Information about Elsa’s Boards is presented in E6-4. Additional data regarding Elsa’s sales of Xpert snowboards are provided below. Assume that Elsa’s uses a perpetual inventory system.


Instructions
(a) Compute ending inventory at September 30 using FIFO, LIFO, and moving-average cost.
(b) Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system.
(c) Which inventory cost flow method (FIFO, LIFO) gives the same ending inventory value under both periodic and perpetual? Which method gives different ending inventoryvalues?


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  • CreatedMarch 02, 2015
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