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Cheyenne's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Cheyenne's purchases of Xpert snowboards during September is shown below.
Cheyenne's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Cheyenne's purchases of Xpert snowboards during September is shown below. During the same month, 194 Xpert snowboards were sold. Cheyenne's uses a periodic inventory system. Date Units Explanation Inventory Purchases Unit Cost $99 42 72 105 Sept. 1 Sept. 12 Sept. 19 Sept. 26 Total Cost $ 4,158 7,560 3,456 8,960 $24,134 32 108 Purchases Purchases 80 112 Totals 226 Compute the ending inventory at 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 $ $ Teytbook and Media
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