Question
purchases of EZslide snowboards during September. During the same month, 101 EZslide snowboards were sold. Sandhill Co. uses a periodic inventory system. Date Explanation
purchases of EZslide snowboards during September. During the same month, 101 EZslide snowboards were sold. Sandhill Co. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 10 $112 $1,120 Sept. 12 Purchases 50 115 5,750 Sept. 19 Purchases 57 116 6,612 Sept. 26 Purchases 21 23 117 2,457 Totals 138 $15,939 (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, eg. 125.153 and final answers to O decimal places, eg. 125) The ending inventory at September 30 FIFO LIFO AVERAGE-COST Sept. 19 Sept. 26. Purchases 57 57 116 6,612 Purchases 21 117 2,457 Totals 138 $15,939 (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 O decimal places, e.g. 125.) The ending inventory at September 30 FIFO LIFO AVERAGE-COST (b) 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, eg. 125.153 and final answers to O decimal places, eg. 125.) Cost of goods sold FIFO LIFO AVERAGE-COST
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