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Exercise 6-4 Sherper's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sherper's purchases of Xpert snowboards during September is
Exercise 6-4 Sherper's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sherper's purchases of Xpert snowboards during September is shown below. During the same month, 138 Xpert snowboards were sold. Sherper's uses a periodic inventory system Units 26 51 23 50 150 Unit Cost Total Cost ate Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases $98 105 109 110 $ 2,548 5,355 2,507 5,500 $15,910 Totals (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 (b) For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold FIFO FO The sum of ending inventory and cost of goods sold
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