Question
Delmott sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Delmott?s purchases of Xpert snowboards during September. During the
Delmott sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Below is information relating to Delmott?s purchases of Xpert snowboards during September. During the same month,101Xpert snowboards were sold. Delmott uses a periodic inventory system.
(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 0 decimal places, e.g. 125.) The ending inventory at Sep 30 using FIFO: ______
The ending inventory at Sep 30 using LIFO: ______
The ending inventory at Sep 30 using the 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, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.)
FIFO LIFO Average-cost
Cost of Good Sold : _______ ________ ______________
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