Part D

Robinson Co. is a specialty retailer that operates in several locations in western North Carolina. Robinson sells snowboards and related items. Data related to purchases and sales of one of its top selling snowboard models for the years 2017 and 2018 are shown below: Description InventorY Date 01/01/17 Units Cost Per Unit 36 01/25/17 10/06/17 11/01/17Purchase 11/22/17 Purchase Purchase 21 35 26 $416 $428 $441 Purchase 2017 Sales 103 01/29/18 10/04/18 1/07/18 12/10/18 Purchase Purchase Purchase Purchase 18 37 24 13 $454 $469 $486 $502 2018 Sales 119 Robinson uses a periodic inventory system to account for its inventory transactions. The company prepares financial statements just once a year, at its December 31 year-end. None of the company's inventory was stolen or damaged during these two years - Instructions- Address the following matters related to Robinson Co.'s accounting for, and reporting of, its inventory activities during 2017 and 2018: (a) Compute the company's inventory at December 31, 2017 and its cost of goods sold for 2017 under each of the following cost flow methods: FIFO method LIFO method Average cost method (round the average cost per unit to the nearest cent)