Information about Boarders is presented in E6-4. Additional data regarding the perpetual records. company’s sales of Xpert snowboards are provided below. Assume that Boarders uses a

(SO 7) perpetual inventory system.

Date Units sept... 5 Sale 8 Sept. 16 Sale 48 Sept. 29 Sale 62 Totals 118 Instructions

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

(Note: For average cost, round unit cost to three decimal places.)

(b) Compare ending inventory for FIFO and LIFO 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?