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Pearl Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pearl Corp.'s purchases of EZslide snowboards during September.
Pearl Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pearl Corp.'s purchases of EZslide snowboards during September. During the same month, 102 EZslide snowboards were sold. Pearl Corp. uses a periodic inventory system. Date Units Unit Cost Total Cost Explanation Inventory Purchases 10 $107 46 110 Sept. 1 Sept. 12 Sept. 19 Sept. 26 Purchases 53 111 $ 1,070 5,060 5,883 2,352 $14,365 Purchases 21 112 Totals 130 (a) 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 The ending inventory at September 30 $ $ (b) 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 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ $ $
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