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REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 103 snowboards were sold. REI uses
REI sells snowboards. Assume the following information relates to REI's purchases of snowboards during September. During the same month, 103 snowboards were sold. REI uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Sept. 12 Inventory 14 $110 $1,540 Purchases 50 113 5,650 Sept. 19 Purchases 54 114 6.156 Sept. 26 Purchases 22 115 2,530 Totals 140 $15,876 Your answer is partially correct. Compute the ending inventory at September 30 using FIFO. LIFO, and average-cost. (Round average cost per unit to 3 decimal places, eg. 125.153 and final answers to O decimal places, eg. 125) Ending inventory at September 30 FIFO 4240 $ LIFO AVERAGE-COST 4185 $ 42125 * Your answer is incorrect. 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 O decimal places, e.g. 125.) FIFO Cost of goods sold $ eTextbook and Media LIFO AVERAGE-COST
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