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Larkspur sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Larkspurs purchases of EZslide snowboards during September. During the

Larkspur sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Larkspurs 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

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.

FIFO

LIFO

AVERAGE-COST

Ending inventory at September 30

$enter ending inventory using First In First Out at September 30 in dollars $enter ending inventory using Last In First Out at September 30 in dollars $enter ending inventory using average-cost at September 30 in dollars

Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods.

FIFO

LIFO

AVERAGE-COST

Cost of goods sold $enter cost of goods sold using First In First Out in dollars $enter cost of goods sold using Last In First Out in dollars $enter cost of goods sold using average-cost in dollars

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