B:

For both FIFO and LIFO, compute the sum of cost of goods sold and ending inventory. What do you notice about the result for each method. (Which one is correct) the sums for FIFO and LIFO are equal the sum is greater for LIFO the sum is greater for FIFO

Exercise 6-05 a-b (Part Level Submission) (Video) Helen's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Helen's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Helen's uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Units Unit Cost Total Cost $2,522 4,680 2,120 5,350 $14,672 Inventory Purchases Purchases Purchases 26 45 20 50 141 $97 104 106 107 Totals Compute the ending inventoryat September 30 and cost of goods sold using the FIFO and LIFO methods FIFO LIFO The ending inventory at September 30 Cost of goods sold