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Exercise 6-5 Linda's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Linda's purchases of Xpert snowboards during September is
Exercise 6-5 Linda's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Linda's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Linda's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost 26 45 Sept. 1 Sept. 12 Sept. 19 Sept. 26 Inventory Purchases Purchases Purchases $97 102 104 $ 2,522 4,590 2,080 5,250 20 105 Totals 141 $14,442 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 A Cost of goods sold to LINK TO TEXT VIDEO: APPLIED SKILLS VIDEO: SIMILAR EXERCISE For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO LIFO
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