Information about Boarders is presented in E6-4. Additional data regarding Boarders’ sales of Xpert snowboards are provided below. Assume that Boarders 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 (from E6-4).

(c) Which inventory cost flow method (FIFO, LIFO) gives the same ending inventory value under both periodic and perpetual? Which method gives different ending inventory values?

Transcribed Image Text:

Unit Price Units 12 Total Cost Date Sept. 5 Sept. 16 Sept. 29 Sale Sale Sale $199 $ 2,388 9,950 12,331 50 59 199 209 Totals 121 $24,669