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Pina Colada sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Pina Coladas purchases of EZslide snowboards during
Pina Colada sells a snowboard, EZslide, that is popular with snowboard enthusiasts. The following is information relating to Pina Coladas purchases of EZslide snowboards during September. During the same month, 99 EZslide snowboards were sold. Pina Colada uses a periodic inventory system.
Date | Explanation | Units | Unit Cost | Total Cost | ||||
---|---|---|---|---|---|---|---|---|
Sept. 1 | Inventory | 11 | $84 | $ 924 | ||||
Sept. 12 | Purchases | 46 | 87 | 4,002 | ||||
Sept. 19 | Purchases | 50 | 88 | 4,400 | ||||
Sept. 26 | Purchases | 18 | 89 | 1,602 | ||||
Totals | 125 | $10,928 |
Compute the ending inventory at September 30 and the cost of goods sold using the FIFO, LIFO, and average-cost methods.
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