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

Instructions
(a) Compute ending inventory at September 30 using FIFO 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 fl ow method (FIFO, moving-average cost) gives the same ending inventory value under both periodic and perpetual? Which method gives different ending inventory values?

Unit Price Total Revenue HK$ 23,880 Date Units Sept. 5 Sept. 16 Sept. 29 Sale Sale Sale Totals HK$1,990 12 50 2,030 2,090 101,500 123,310 59 HK$248,690 121