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Exercise 6-18 al-a2, b-C Sheffield's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sheffield's purchases and sales of Xpert snowboards during September is shown below. During the same month, 261 Xpert snowboards were sold. Additional data regarding Sheffield's sales of Xpert snowboards are provided below. Assume that Sheffield's uses a perpetual inventory system. Date Unit Cost Total Cost $97 104 Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Inventory 56 Purchases 97 Purchases 43 Purchases 108 Totals 304 $ 5,432 10,088 4,644 12,204 108 113 $32,368 == Date Unit Price Units 26 Sept. 5 Sept. 16 Sept. 29 Sale Sale $199 199 Total Revenue $5,174 21,492 26,543 $53,209 108 Sale 127 209 Totals 261 Calculate moving average cost at Sept 1, 5, 12, 16, 19, 26 & 29. (Round answers to 2 decimal places, e.g. 1.25.) September 1 $ September 5 $ September 12 $ September 16 $ September 19 $ September 26 $ September 29 $ 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 $ S Compare ending inventory using a perpetual inventory system to ending inventory using answer to o decimal places, e.g. 1,250.) periodic inventory system. (Round average-cost per unit to 2 decimal places, e.g. 12.50 and final 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? Question Attempts: 0 of 5 used