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Carla Vista Co. sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Carla Vista Co's purchases of White
Carla Vista Co. sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Carla Vista Co's purchases of White Out snowboards during September. During the same month, 110 WhiteOut snowboards were sold at $170 each. Carla Vista Co. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 22 $100 $2,200 Sept. 12 Purchases 38 106 4,028 Sept. 19 Purchases 21 110 2,310 Sept. 26 Purchases 42 112 4,704 Totals 123 $13,242 Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO The ending inventory Cost of goods sold 2240 2000 13242 $ 11018
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