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Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pharoah Company's purchases of EZslide snowboards during September.
Pharoah Company sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Pharoah Company's purchases of EZslide snowboards during September. During the same month, 95 EZslide snowboards were sold. Pharoah Company uses a periodic inventory system. Date Explanation Unit Cost Total Cost Sept. 1 Inventory Units 13 46 $104 $1,352 Purchases 107 4.922 Sept. 12 Sept. 19 Purchases 108 Sept. 26 Purchases 21 109 5,832 2,289 $14,395 Totals _134 (1) Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. (Round average cost per unit to 3 decimal places, eg, 125.153 and final answers to decimal places, eg, 125.) FIFO LIFO AVERAGE-COST The ending inventory at September 30 $ $ (a2) 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, eg. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ eTextbook and Media
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