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calculating fifo and lifo for ending inventory and cost of goods sold Flint Corporation sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented
calculating fifo and lifo for ending inventory and cost of goods sold
Flint Corporation sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Flint Corporation's purchases of WhiteOut snowboards during September. During the same month, 110 WhiteOut snowboards were sold at $ 170 each, Flint Corporation uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 24 $ 100 $2.400 Sept. 12 Purchases 40 106 4,240 Sept. 19 Purchases 23 110 2,530 Sept. 26 Purchases 44 112 4.928 Totals 131 $ 14,098 (a) Your answer is incorrect Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods FIFO LIFO The endinginventory Step by Step Solution
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