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Question 3 of 6 .../25 5 E View Policies Current Attempt in Progress Michelle's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts.
Question 3 of 6 .../25 5 E View Policies Current Attempt in Progress Michelle's Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Michelle's purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Michelle's uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 26 $97 $ 2,522 Sept. 12 Purchases 45 102 4,590 Sept. 19 Purchases 20 104 2,080 Sept. 26 Purchases 50 105 5,250 Totals 141 $14,442 (a) Your answer has been saved. See score details after the due date. Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. FIFO LIFO (a) Your answer has been saved. See score details after the due date. 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 $ 2100 $ 1940 Cost of goods sold $ 12342 $ 12502 Attempts: 1 of 1 used (b) 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 $ $
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