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Oriole sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Orioles beginning inventory and purchases of EZslide snowboards

Oriole sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Orioles beginning inventory and purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Oriole uses a periodic inventory system.

Date

Explanation

Units

Unit Cost

Total Cost

Sept. 1 Inventory

12

$114

$ 1,368

Sept. 12 Purchases

43

117

5,031

Sept. 19 Purchases

49

118

5,782

Sept. 26 Purchases

18

119

2,142

Totals

122

$14,323

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

The ending inventory at September 30: FIFO: LIFO: Average cost:

Cost of goods sold: FIFO: LIFO: Average cost:

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