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Exercise 6-04 Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards
Exercise 6-04 Blossom Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Blossom Company's purchases of EZslide snowboards during September. During the same month, 104 EZslide snowboards were sold. Blossom Company uses a periodic inventory system. Date Explanation Inventory Purchases Units 13 Unit Cost $115 118 Sept. 1 Sept. 12 Sept. 19 Sept. 26 48 56 Total Cost $ 1,495 5,664 6,664 2,760 $ 16,583 119 Purchases Purchases 23 120 Totals 140 (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.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $ $ (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 goods sold $ $ $
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