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Sage Hill sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sage Hill's purchases of EZslide snowboards during September.
Sage Hill sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sage Hill's purchases of EZslide snowboards during September. During the same month, 105 EZslide snowboards were sold. Sage Hill uses a periodic inventory system. Date Sept. 1 12 19 26 Explanation Units Inventory Purchase Purchase Purchase Total 15 45 Cost of goods sold 50 $ 20 130 Ending inventory at September 30 $ Unit Cost $88 FIFO 90 92 93 Total Cost Compute the ending inventory at September 30 using the FIFO, LIFO and average-cost methods. FIFO $1,320 4,050 $ 4,600 1,860 $11,830 Compute the cost of goods sold at September 30 using the FIFO, LIFO and average-cost methods. $ LIFO LIFO $ AVERAGE-COST AVERAGE-COST
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