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Please HELP! What are the answers to question 4. Thank you. E6-4 Elsas Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Compute
Please HELP! What are the answers to question 4. Thank you.
E6-4 Elsas Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Compute inventory and cost Information relating to Elsa's purchases of Xpert snowboards during September is shown of goods sold using FIFO and below. During the same month, 121 Xpert snowboards were sold. Elsa's uses a periodic LIFO inventory system. (LO 2) Date Explanation Units Unit CostTotal Cost 45 50 141 S 97 102 104 105 Sept. 1 Sept. 12 Inventory Purchases Sept. 19 Pchases Sept. 26 Purchases 2,522 4,590 2,080 5,250 $14,442 (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. Prove the amount allocated to cost of goods sold under each method. (b) For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold. What do vou notice about the answers you found for cach method Step by Step Solution
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