Swiftys Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Swiftys purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Swiftys uses a perpetual inventory system.

Date	Explanation	Units	Unit Cost	Total Cost
Sept. 1	Inventory	23	HK$814	HK$18,722
Sept. 12	Purchases	45	856	38,520
Sept. 19	Purchases	20	874	17,480
Sept. 26	Purchases	44	882	38,808
	Totals	132		HK$113,530

Date		Units	Unit Price	Total Cost
Sept. 5	Sale	12	HK$1,672	HK$20,064
Sept. 16	Sale	50	1,706	85,300
Sept. 29	Sale	59	1,756	103,604
	Totals	121		HK$208,968

Part 1

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$

Part 2

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 0 decimal places, e.g. 125.)

	Periodic	Perpetual
Ending Inventory FIFO	HK$	HK$
Ending Inventory Average	HK$	HK$

Part 3

Which inventory cost flow method (FIFO, moving-average cost) gives the same ending inventory value under both periodic and perpetual?

Choose your answer hereAverage-costFIFOyields the same ending inventory value.

Part 4

Which method gives different ending inventory values?

Choose your answer hereAverage-costFIFOyields different ending inventory values.