*E6.5 (LO 5) Howsham Ltd. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost £1,000 1.800 200 £S Inventory Purchase Purchase June ! 12 300 6 23 500 3,500 30...

Extracted text: *E6.5 (LO 5) Howsham Ltd. reports the following for the month of June. Date Explanation Units Unit Cost Total Cost £1,000 1.800 200 £S Inventory Purchase Purchase June ! 12 300 6 23 500 3,500 30 Inventory 160 insiructions a. Calculate the cost of the ending inverntory and the cost of goods sold for (1) FIFO and (2) moving- average cost, using a perpetual inventory system. Assume a sale of 400 units occurred on June 15 for a selling price of £8 and a sale of 440 units on Junc 27 for £9. E Why is the average unit cost noi £6 [(£5 + £6 + £7) ÷ 3 = £6]? *E6. 16 (LO S) Information about Zhu Boaids is presented in E6.4. Additional data regarding Zhu's sates of Xpert snowboards are provided below. Assume that Zhu uses a perpetual inventory system. Date Explanation Units Unit Price Total Revenue HKS1,990 HKS 23,880 Sept. 5 Sept. 16 Sept. 29 Sale 12 50 59 2,030 2,090 Sale 101.500 Sale 123,310 Totals 121 HK$248,690 Instructions a. Compute ending inventory at September 30 using FIFO and moving-average cost. a Which inventory cost flow method (FIFO, moving-average cost) gives the same ending inventory value under both periodic and perpetual? Which method gives different ending inveniory values?