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Metlock sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Metlocks purchases of EZslide snowboards during September. During the

Metlock sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Metlocks purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Metlock uses a periodic inventory system.

Date

Explanation

Units

Unit Cost

Total Cost

Sept.

1

Inventory

15

$108

$1,620

12

Purchase

45

110

4,950

19

Purchase

50

112

5,600

26

Purchase

20

113

2,260

Total

130

$14,430

Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods

enter ending inventory using First In First Out at September 30 in dollars enter ending inventory using Last In First Out at September 30 in dollars enter ending inventory using average-cost at September 30 in dollars

Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods.

FIFO

LIFO

AVERAGE-COST

Ending inventory at September 30

Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods.

FIFO

LIFO

AVERAGE-COST

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