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Exercise 6-5 (Part Level Submission) Concord's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Concord's purchases of Xpert snowboards
Exercise 6-5 (Part Level Submission) Concord's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Concord's purchases of Xpert snowboards during September is shown below. During the same month, 182 Xpert snowboards were sold. Concord's uses a periodic inventory system. Units Unit Cost 39 $101 Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases 68 105 Total Cost $ 3,939 7,140 3,210 8,400 $22,689 30 75 107 112 Totals 212 (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 s LINK TO TEXT VIDEO: APPLIED SKILLS VIDEO: SIMILAR EXERCISE
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