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RCES Question 10 Novak Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Novak Corp.'s purchases of EZslide
RCES Question 10 Novak Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Novak Corp.'s purchases of EZslide snowboards during September. During the same month, 107 EZslide snowboards were sold. Novak Corp. uses a periodic inventory system. Date Units 13 Unit Cost $117 Explanation Inventory Purchases Purchases Purchases 46 Sept. 1 Sept. 12 Sept. 19 Sept. 26 120 Total Cost $ 1,521 5,520 7,260 2,562 $16,863 60 121 21 122 Totals 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 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST tudy. The ending inventory at September 30 $ $ $ (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 0 decimal places, e.g. 125.) FIFO LIFO AVERAGE-COST Cost of goods sold $ $ $ Click if you would like to Show Work for this question: Open Show Work
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