Boarders sells a snowboard Xpert, that is popular with snowboard enthusiasts. Below is information relating to Boarder's purchases of Xpert snowboards during September. During the same month, 254 Xpert snowboards were sold. Boarders uses a periodic inventory system.

Date -----Explanation-------Units--------Unit Cost---------Total Cost

Sept 1 -----Inventory -------55 --------$ 97 ----------------$5,335 Sept 12---- Purchases------- 95-------- 104---------------- 9880 Sept 19---- Purchases -------42 --------109 ----------------4,578 Sept 26 ----Purchases -------105 --------114 ----------------11,970 ----------------Totals ---------297--------------------------- $31,763

Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. Explain your answer in the Note Box. --------------------------------FIFO ----------------LIFO Ending Inventory----------- $______ -------$_______ Cost of goods sold --------$______ -------$_______ 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.Chose the right answer (the sums for FIFO and LIFO are equal (the sum is greater for FIFO (the sum is greater for LIFO