Refer to the data for Xpert Snowboards in E6-15.

Assume that all of Xpert's sales are for cash and all of its purchases are on account. 

Instructions 

(a) Record the purchase on October 10 and sale on October 12 for Xpert Snowboards in a perpetual inventory system under
(1) FIFO and
(2) Weighted average.
(b) Record the purchase on October 13 and sale on October 25 for Xpert Snowboards in a periodic inventory system under
(1) FIFO and
(2) Weighted average.

Transcribed Image Text:

Units Unit Purchase Price S295 300 Date Transaction Unit Sales Price 1 Beginning inventory 25 10 Purchase 12 Sale 13 Purchase 25 Sale 27 Purchase 30 (42) 35 (45) 20 S450 305 460 310