Also calculate the average cost method in addition to FIFO and LIFO. Show both cost of goods sold and cost of ending inventory under weighted average.

E6-4 Linda's Boards sells a snowboard, Xpert, that is popular with snowboard enthusi- asts. Information relating to Linda's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Linda's uses a periodic inventory system Date Total Cost Units 26 45 20 50 141 Unit Cost $ 97 102 104 105 Explanation Sept. 1 Sept. 12 Sept. 19 Sept. 26 Inventory Purchases Purchases Purchases $ 2,522 4,590 2,080 5,250 $14,442 Totals Instructions (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFOo and LIFO methods. Prove the amount allocated to cost of goods sold under each method. (b) For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. What do vou notice about the answers y ou found for each method? Show transcribed image text