Lauras Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Lauras purchases of Xpert snowboards during September is shown below. During the same month, 120 Xpert snowboards were sold. Lauras uses a periodic inventory system.

Date		Explanation		Units		Unit Cost		Total Cost
Sept. 1		Inventory		30		$97		$ 2,910
Sept. 12		Purchases		45		103		4,635
Sept. 19		Purchases		20		105		2,100
Sept. 26		Purchases		50		106		5,300
		Totals		145				$14,945

(a)

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 30		$enter a dollar amount		$enter a dollar amount
Cost of goods sold

b)

For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold.

		FIFO		LIFO
The sum of ending inventory and cost of goods sold		$		$