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Exercise 6-05 a-b (Part Level Submission) Oriole's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Oriole's purchases of Xpert
Exercise 6-05 a-b (Part Level Submission) Oriole's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Oriole's purchases of Xpert snowboards during September is shown below. During the same month, 284 Xpert snowboards were sold. Oriole's uses a periodic inventory system. Explanation Units Unit Cost Total Cost 5,978 11,130 5,029 13,570 $35,707 Date Sept. 1 Inventory 61 Sept. 12 Purchases 106 Sept. 19 Purchases Sept. 26 Purchases 118 $98 105 107 115 Totals 332 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
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