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Metlock Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Metlock's purchases of Xpert snowboards during September is shown below.
Metlock Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Metlock's purchases of Xpert snowboards during September is shown below. During the same month, 85 Xpert snowboards were sold. Metlock's uses a periodic inventory system. (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to 0 decimal places, e.g. 125.) (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and average-cost methods. (Round per unit cost to 3 decimal places, eg. 15.125 and final answers to 0 decimal places, e.g. 125.) (b) For both FIFO and average-cost, calculate the sum of ending inventory and cost of goods sold. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to 0 decimal places, e.g. 125.)
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