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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 the
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 Sept. 1 12 19 26 Explanation Units Inventory Purchase Purchase Purchase Total Ending inventory at September 30 15 Cost of goods sold 45 $ 50 20 130 $ Unit Cost $128 FIFO 130 132 133 Total Cost Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. FIFO $1,920 5,850 $ 6,600 2,660 $17,030 Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. $ LIFO LIFO $ AVERAGE-COST AVERAGE-COST
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