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

Instructions

(a) Compute ending inventory at September 30 using FIFO. LIFO, and 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?

Date Units Unit Price Total Cost Sept. 5 Sale 12 $199 $ 2.388 Sept. 16 Sale 50 199 9,950 Sept. 29 Sale 62 209 12,958 Totals 124 $25,296