Exercise 6-05 a-b (Part Level Submission)

Splish Brotherss Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Splish Brotherss purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Splish Brotherss uses a periodic inventory system.

Date		Explanation		Units		Unit Cost		Total Cost
Sept. 1		Inventory		26		$102		$ 2,652
Sept. 12		Purchases		45		103		4,635
Sept. 19		Purchases		20		108		2,160
Sept. 26		Purchases		50		114		5,700
		Totals		141				$15,147

(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		$		$