Question 3 Elsa's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Elsa's purchases of Xpert snowboards during September is shown below During the same month, 203 Xpert snowboards were sold. Elsa's uses a periodic inventory system. Explanation Units Unit Cost Total Cost $4,400 7,828 3,638 8,820 $24,686 Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Inventory Purchases Purchases Purchases 76 34 84 238 $100 103 107 105 Totals Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods FIFO LIFO The ending inventory at September 30 3675 3500 Cost of goods sold 24686 24686 For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold FIFO LIFO The sum of ending inventory and cost of goods sold 28361 28186