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Compute ending inventory at September 30 using FIFO, LIFO, and moving average cost. (Round average- cost per unit to 2 decimal places, e.g. 12.50 and
Compute ending inventory at September 30 using FIFO, LIFO, and moving average cost. (Round average- cost per unit to 2 decimal places, e.g. 12.50 and final answer to o decimal places, e.g. 1,250.) FIFO LIFO MOVING-AVERAGE COST The ending inventory Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. Periodic Perpetual Ending Inventory FIFO $ Ending Inventory LIFO 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? Pronghorn's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Pronghorn's purchases and sales of Xpert snowboards during September is shown below. During the same month, 158 Xpert snowboards were sold. Additional data regarding Pronghorn's sales of Xpert snowboards are provided below. Assume that Pronghorn's uses a perpetual inventory system. Date Units Unit Cost $99 34 Explanation Inventory Purchases Purchases Purchases Sept. 1 Sept. 12 Sept. 19 Sept. 26 104 59 26 65 Total Cost $ 3.366 6,136 2,808 7,215 $19,525 108 111 Totals 184 Unit Price $199 Sale Date Sept. 5 Sept. 16 Sept. 29 Total Revenue $3,184 12,935 16,093 $32,212 Units 16 65 77 158 Sale Sale Totals 199 209
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