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Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Mather's purchases of EZslide snowboards during September. During the
Mather sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Mather's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Mather uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 15 $100 $1,500 12 Purchase 45 102 4,590 19 Purchase 50 104 5,200 26 Purchase 20 105 2,100 Total 130 $13,390 Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. FIFO LIFO AVERAGE-COST Ending inventory at September 30 $ 2,620 $ 2,330 $ 10.815 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 $ 10,770 $ 10,360 $
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