Hello,

I need to understand what the methods to finding this solution are. If possible in layman's terms; step by step, what goes where and why and how you got the answer you did. I have a exam later and need to understand the information

Thank you!

Best Goods.sells a snowboard, Snowslide, that is popular with snowboard enthusiasts. Below is information relating toBest Goods purchases of Snowslide snowboards during September. During the same month,104Snowslide snowboards were sold.Best Goodsuses a periodic inventory system.

(a) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods