(B) Compute the Gross Profit as per FIFO & LIFO.

(C) Which method results in a larger amount reported for assets on the balance sheet? Which results in a larger amount reported for stockholders' equity on the balance sheet?

Nash sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Nash's purchases of WhiteOut snowboards during September. During the same month, 126 WhiteOut snowboards were sold at \$162 each. Nash uses a periodic inventory system. (a) Your answer is incorrect. Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods