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Return to Blackboard US Weygandt, Financial Accounting, 10e Heln I System Announcements y&Practice Gradebook ORION Downloadable eTextbook Assignment NEXT RCES On December 1, Monty Corp. has three DVD players left in stock. All are identical, all are priced to sell at $180. One of the three DVD players left in stock, with serial #1012, was purchased on June 1 at a cost of $111. Another, with serial ,1045, was purchased on November 1 forS90 The last player, se alr10ss, was purchased on November 30 for $80 Calculate the cost of goods sold using the FIFO periodic inventory method assuming that two of the three players were sold by the gnd of December, Monty Corp. year-end Cost of goods sold VIDEO SEMILAR EXERCISE VIDEO APPLIED SKILLS If Monty Corp. used the specific identification method instead of the FIFO method, how might it alter its earnings by "selectively choosing which particular players to sell to the two customers? What would Monty's cost of goods sold be if the company wished to minimize earnings Cost of goods sold would be $ Cost of goods sold would be $ Click if you would like to Show Work for this question: Qpen Show Work y Study if it wished to minimize the earnings. if it wished to maximize the earnings. VIDEO SIMILAR EXERCESE VIDEO APPLIED SKILLS Question Attempts: O of 15 used SAVE FOR LATER SUBMIT ANSWER 9/03 AM ractice Assignment Gradebook ORION Downloadable eTextbook ignment S Monty's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Monty's purchases of xpert snowboards during September is shown below. During the same month, 290 xpert snowboards were sold. Monty's uses a periodic inventory system Date Explanation Units Unit Cost Total Cost $101 6,262 105 11,340 5,184 Sept. 26 Purchases1 1113,200 $35,986 62 Sept. 1 Inventory Sept. 12 Purchases 108 Sept. 19 Purchases 48 108 Totals 338 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 30s Cost of goods sold udy NK TO TEX For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods LEFO FIFO The sum of ending inventory and cost of goods sold 04 AM PaDn