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Current Attempt in Progress Kingbird sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Kingbird's purchases of EZslide
Current Attempt in Progress Kingbird sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Kingbird's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Kingbird uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $80 $1,200 12 Purchase 45 82 3,690 19 Purchase 50 84 4,200 26 Purchase 20 85 1,700 Total 130 $10.790 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. FIFO Ending inventory at September 30 $ LIFO Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods FIFO Cost of goods sold $ LIFO AVERAGE-COST AVERAGE-COST
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