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Exercise 6-3 Fint Corporation sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Flint Corporation's purchases of EZslide snowboards
Exercise 6-3 Fint Corporation sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Flint Corporation's purchases of EZslide snowboards during September. During the same month, 95 EZslide snowboards were sold. Flint Corporation uses a periodic inventory system. Date Sept. 1 Sept. 12 Sept. 19Purchases Sept. 26 Explanation Units Unit Cost Total Cost 13 46 47 20 126 $102 105 106 107 1,326 4,830 4,982 2,140 $13,278 Purchases Totals (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 AVERAGE-COST LIFO The ending inventory at September 30 s (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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