Exercise 6-16 Headland's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Headland's purchases of Xpert snowboards during September is shown below. During the same month, 193 Xpert snowboards were sold. Headland's uses a perpetual inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 37 HK$1,000 HK$ 37,000 Sept. 12 Purchases 72 1,040 74,880 Sept. 19 Purchases 32 1,060 33,920 70 77,700 HK$223,500 Sept. 26 Purchases 1,110 Totals 211 Date Units Unit Price Total Cost Sept. 5 Sale 19 HK$1,950 HK$37,050 Sept. 16 Sale 80 1,950 156,000 Sale 94 197,400 HK$390,450 Sept. 29 2,100 Totals 193 Compute ending inventory at September 30 using FIFO and moving-average cost. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125.) FIFO MOVING-AVERAGE COST The ending inventory HK$ HK$

Exercise 6-16 Headland's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Headland's purchases of Xpert snowboards during September is shown below. During the same month, 193 Xpert snowboards were sold. Headland's uses a perpetual inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 37 HK$1,000 HK$ 37,000 Sept. 12 Purchases 72 1,040 74,880 Sept. 19 Purchases 32 1,060 33,920 Sept. 26 Purchases 70 1,110 77,700 Totals 211 HK$223,500 Date Units Unit Price Total Cost Sept. 5 Sale 19 HK$1,950 HK$37,050 Sept. 16 Sale 80 1,950 156,000 Sept. 29 Sale 94 2,100 197,400 Totals HK$390,450 193 Compute ending inventory at September 30 using FIFO and moving-average cost. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to o decimal places, e.g. 125.) FIFO MOVING-AVERAGE COST The ending inventory HKS HK$ Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. (Round per unit cost to 2 decimal places, e.g. 15.25 and final answers to decimal places, e.g. 125.) Periodic Perpetual Ending Inventory FIFO HK$ HK$ Ending Inventory Average HK$ HK$