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Question 8 Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co.'s purchases of EZ slide
Question 8 Wildhorse Co. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Wildhorse Co.'s purchases of EZ slide snowboards during September. During the same month, 107 EZ slide snowboards were sold. Wildhorse Co. uses a periodic inventory system. Units Date Sept. 1 Sept. 12 Sept. 19 Sept. 26 Explanation Inventory Purchases Purchases Purchases Totals Unit Cost $110 113 114 115 Total Cost $ 1,650 5,537 5,814 2,875 $15,876 140 (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.) FIFO LIFO AVERAGE-COST The ending inventory at September 30s (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, e.g. 125.153 and final answers to o decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods solds
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