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Novak Corp.sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Novak Corp.'s purchases of EZslide snowboards during September. During
Novak Corp.sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Novak Corp.'s purchases of EZslide snowboards during September. During the same month, 97 EZslide snowboards were sold. Novak Corp. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 11 $97 $1,067 Sept. 12 Purchases 4,400 Sept. 19 Purchases 4,747 Sept. 26 Purchases 2,244 Totals 124 $12,458 (a1) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST September 30 The ending inventory at September 30 $ $ $ (22) Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, e.g. 125.153 and final answers to O decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $
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