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Marin sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Marin's purchases of EZslide snowboards during September. During
Marin sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Marin's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Marin uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $84 $1,260 12 Purchase 45 86 3,870 19 Purchase 26 Purchase 520 50 88 4,400 20 89 1,780 Total 130 $11,310 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. Ending inventory at September 30 FIFO GA $ LIFO AA AVERAGE-COST AVERAGE-COST Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. Cost of goods sold A FIFO A LIFO A
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