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REI sells snowboards. Assume the following information relates to REIs purchases of snowboards during September. During the same month, 100 snowboards were sold. REI uses

REI sells snowboards. Assume the following information relates to REIs purchases of snowboards during September. During the same month, 100 snowboards were sold. REI uses a periodic inventory system.

Date

Explanation

Units

Unit Cost

Total Cost

Sept. 1

Inventory

13

$115

$ 1,495

Sept. 12

Purchases

49

118

5,782

Sept. 19

Purchases

54

119

6,426

Sept. 26

Purchases

24

120

2,880

Totals

140

$16,583

Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. (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

Ending inventory at September 30

$enter a dollar amount $enter a dollar amount $enter a dollar amount

Compute the cost of goods sold for the month 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

$enter a dollar amount $enter a dollar amount $enter a dollar amount

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