Whispering Windss Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Whispering Windss purchases and sales of Xpert snowboards during September is shown below. During the same month, 249 Xpert snowboards were sold. Additional data regarding Whispering Windss sales of Xpert snowboards are provided below. Assume that Whispering Windss uses a perpetual inventory system.

1. Calculate moving average cost at Sept 1, 5, 12, 16, 19, 26 & 29.

2. Compute ending inventory at September 30 using FIFO, LIFO, and moving-average cost.

3. Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system.

4.Which inventory cost flow method (FIFO, LIFO) gives the same ending inventory value under both periodic and perpetual? And Which method gives different ending inventory values?

Unit Cost Date Units Total Cost 53 Explanation Inventory Purchases Purchases Sept. 1 Sept. 12 Sept. 19 Sept. 26 $97 104 92 41 109 $ 5,141 9,568 4,469 11,330 $30,508 Purchases 103 110 Totals 289 Date Units Sale 25 Sept. 5 Sept. 16 Sept. 29 Unit Price $199 199 209 Total Revenue $4,975 20,497 25,289 $50,761 Sale 103 Sale 121 Totals 249 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 0 decimal places, e.g. 1,250.) FIFO LIFO MOVING-AVERAGE COST The ending inventory $ $ eTextbook and Media X Your answer is incorrect. Compare ending inventory using a perpetual inventory system to ending inventory using a periodic inventory system. (Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, e.g. 1,250.) Periodic Perpetual Ending Inventory FIFO $ $ Ending Inventory LIFO $ $