Powder, Inc. sells an Xpert snowboard that is popular with snowboard enthusiasts. The following information shows Powder's purchases and sales of Xpert snowboards during November: Unit Unit Sales Date Explanation Units Cost/Price Price Nov. 1 Beginning inventory 34 $295 5 Purchases 22 300 12 Sales (40) 500 19 Purchases 43 305 22 22 Sales (47) 511 25 Purchases 31 310 43 (a) Your answer is correct. Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Powder uses a perpetual inventory system. (Round FIFO answers to the nearest whole dollar, e.g. 5,275 and Average cost answers to 2 decimal places, e.g. 15.25. Do not round intermediate calculations.) FIFO Average Cost Cost of goods sold $ 26085 $ 26111.15 Ending inventory $ 13270 $ 13243.85 eTextbook and Media Attempts: unlimited (b) Determine the cost of goods sold and ending inventory using (1) FIFO and (2) average cost, assuming Powder uses a periodic inventory system. (Round FIFO answers to the nearest whole dollar, e.g. 5,275 and Average cost answers to 2 decimal places, eg. 15.25. Round per unit cost to 2 decimal places eg. 15.25.) Cost of goods sold $ Ending inventory $ eTextbook and Media Save for Later FIFO $ $ Average Cost Attempts: unlimited Submit