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Blossom Company sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Blossom Company's purchases of WhiteOut snowboards during
Blossom Company sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Blossom Company's purchases of WhiteOut snowboards during September. During the same month, 109 WhiteOut snowboards were sold at $ 170 each. Blossom Company uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $ 100 $ 2,600 Sept. 12 Purchases 40 106 4,240 Sept. 19 Purchases 25 110 2,750 Sept. 26 Purchases 42 112 4,704 Totals 133 $ 14,294 (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO The ending inventory $ $ ta Cost of goods sold $ $
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