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Please go step by step on how FIFO and LIFO for ending inventory is calculated. Novak Corp. sells a snowboard, EZslide, that is popular with

image text in transcribed Please go step by step on how FIFO and LIFO for ending inventory is calculated.

Novak Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Novak Corp.'s purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Novak Corp. uses a periodic inventory system. (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 0 decimal places, e.g. 125.)

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