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Monty's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Monty's purchases of Xpert snowboards during September is shown below.

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Monty's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Monty's purchases of Xpert snowboards during September is shown below. During the same month, 290 Xpert snowboards were sold. Monty's uses a periodic inventory system. Date Unit Cost Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Units 62 108 $101 105 108 Total Cost $ 6,262 11,340 5,184 13,200 $35.986 48 120 110 338 Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO $ $ The ending inventory at September 30 I $ $ Cost of goods sold For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. FIFO LIFO The sum of ending inventory and cost of goods sold $ $

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