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Current Attempt in Progress Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co's purchases
Current Attempt in Progress Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co's purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Wildhorse Co. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $110 $1,650 Sept. 12 Purchases 49 113 5,537 Sept. 19 Purchases 51 114 5,814 Sept. 26 Purchases 25 115 2.875 Totals 140 $15,876 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, eg. 125.) The ending inventory at September 30 FIFO LIFO $ AVERAGE-COST (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to O decimal places, eg. 125.) Cost of goods sold FIFO LIFO AVERAGE-COST
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