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Helen's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Helen's purchases of Xpert snowboards during September is shown below.
Helen's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Helen's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Helen's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $97 $ 2,522 Sept. 12 Purchases 45 104 4.680 Sept. 19 Purchases 20 106 2.120 Sept. 26 Purchases 50 107 5.350 Totals 141 $14,672 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 $ $ For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO LIFO The sum of ending inventory and cost of goods sold $
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