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Larkspur sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Larkspur's purchases of EZslide snowboards during September. During
Larkspur sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Larkspur's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Larkspur uses a periodic inventory system. Date: Explanation Units: Unit Cost Total Cost Sept. 1 Inventory 15 $82 $1,230 12 Purchase 45 84 3,780 19 Purchase 50 50 86 4,300 26 Purchase 20 87 1,740 Total 130 $11,050 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. Ending inventory at September 30 FIFO LIFO Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. Cost of goods sold FIFO LIFO AVERAGE-COST AVERAGE COST
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