Hi,

Questions E6-15 - Part(B) when the questions states ''What would the ending inventory, etc.'' It means calculate the $ value of ending inventory and the $ value of Cost of Good Sold.

Thank you

*16-15 Xpert Snowboards sells an ultra-lightweight snowboard that is considered to be one of the best on the Apply periodic and perpetual market. Information follows for Xpert's purchases and sales of the ultra-lightweight snowboard in October: Date Transaction FIFO and weighted average. Units (LO 2, 7) AP Oct. 1 10 Beginning inventory Unit Purchase Price Unit Sales Price Purchase 25 $295 12 30 Sale 300 (42) 13 Purchase $450 35 25 305 Sale (45) 460 27 Purchase 20 310 Instructions (a) Calculate the cost of goods sold and the ending inventory using FIFO and weighted average, assuming Xpert uses a perpetual inventory system. (Round the weighted average cost per unit to two decimal places.) (b) What would be the ending inventory and cost of goods sold if Xpert used FIFO and weighted average in a periodic inventory system? (Round the weighted average cost per unit to two decimal places.)