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Compute the ending inventory at Sept 30th and the cost of goods sold using the FIFO, LIFO and average cost methods. Marigold sells a snowboard,
Compute the ending inventory at Sept 30th and the cost of goods sold using the FIFO, LIFO and average cost methods.
Marigold sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Marigold's purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Marigold uses a periodic inventory system. Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, es. 15.647 and final answers to 0 decimal places, es. 5,125.) Step by Step Solution
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