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*Exercise 6-04 Martinez Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Martinez Corp.'s purchases of EZslide snowboards
*Exercise 6-04 Martinez Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Martinez Corp.'s purchases of EZslide snowboards during September. During the same month, 106 EZslide snowboards were sold. Martinez Corp. uses a periodic inventory system. Explanation Inventory Purchases Units 15 Unit Cost $106 Date Sept. 1 Sept. 12 Sept. 19 Total Cost $ 1,590 46 109 5,014 Purchases 54 110 5,940 Sept. 26 Purchases 21 111 2,331 $14,875 Totals 136 (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 O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ $
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