Question
Debra's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Debra's purchases of Xpert snowboards during September is shown
Debra's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Debra's purchases of Xpert snowboards during September is shown below. During the same month, 124 Xpert snowboards were sold. Debra's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 28 Sept. 12 Purchases 45 Sept. 19 Purchases 22 $95 $2,660 103 4,635 20 105 2,100 Sept. 26 Purchases 50 106 5,300 Totals 143 $14,695 (a) 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 $ +A $
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