Question

Exercise 6-16 (Part Level Submission) Cheyenne's Boards sells a snowboard, Xpert that is popular with snowboard enthusiasts. Information relating to Cheyenne's purchases of Xpert snowboards during September is shown below. During the same month, 166 Xpert snowboards were sold. Cheyenne's uses a perpetual inventory system, Sept. 1 Sept. 12 Sept. 19 Sept. 26 Inventory Purchase Purchase Purchases 32 62 27 60 181 HK$970 1,050 1,080 1,140 Total Cost HK$ 31,040 65,100 29,160 6,400 HK$ 193,700 16 tips Sept. 16 Sept. 29 Sale Sale Total 151.90 1,040 2,110 Total Con HKS 31.040 131, 170,910 H335,310 81 166 (a) Compute ending inventory September 30 mg PO and moving average cost. (Round per un cost to 2 decimal. 15.25 and final answers to decimal places, .. 125.) FIFO HOVING AVERAGE COST The ending inventory HKS HKS

Answer 1

The ending inventory at Sep 30 using FIFO method is HK $ 17,100

The ending inventory at Sep 30 using Moving Average Method is HK$ 16,697.25