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Indigo Corporation sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Indigo Corporation's purchases of EZslide snowboards during September.
Indigo Corporation sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Indigo Corporation's purchases of EZslide snowboards during September. During the same month, 109 EZslide snowboards were sold. Indi Corporation uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 12 $105 $ 1,260 Sept. 12 Purchases 50 108 5,400 pt. 19 Purchases 57 109 6,213 Sept. 26 Purchases 21 110 2,310 Totals 140 $15,183 (a) Compute the ending inventory at September 30 using the FIFO, LIFO and average cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $ $ $ $ (b) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to decimal places, eg. 125.153 and final answers to decimal places, eg. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ LA $ $
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