Question 7 Marigold Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Marigold's purchases of Xpert snowboards during September is shown below. During the same month, 305 Xpert snowboards were sold. Marigold's uses a periodic inventory system. Units Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 58 113 Explanation Inventory Purchases Purchases Purchases Totals Unit Cost HK$999 1,040 1,066 1,105 Total Cost HK$ 57,942 117,520 53,300 122,655 HK$351,417 50 111 332 (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and average-cost methods. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to o decimal places, e.g. 125.) FIFO Average-Cost The ending inventory at September 30 HKSU HKS Cost of goods sold HK$ HKS (b) For both FIFO and average-cost, calculate the sum of ending inventory and cost of goods sold. (Round per unit cost to 3 decimal places, e.g. 15.125 and final answers to o decimal places, e.g. 125.) FIFO Average-Cost The sum of ending inventory and cost of goods sold HK$L HK$