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Sandras Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sandras purchases of Xpert snowboards during September is shown below.

Sandras Boards sells a snowboard, Xpert, that is popular with snowboard enthusiasts. Information relating to Sandras purchases of Xpert snowboards during September is shown below. During the same month, 121 Xpert snowboards were sold. Sandras uses a periodic inventory system.

Date

Explanation

Units

Unit Cost

Total Cost

Sept. 1

Inventory

26

$ 95

$ 2,470

Sept. 12

Purchases

45

100

4,500

Sept. 19

Purchases

20

102

2,040

Sept. 26

Purchases

50

103

5,150

Totals

141

$ 14,160

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Your answer is incorrect.

Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods.

FIFO

LIFO

The ending inventory at September 30

$ Enter a dollar amount

$ Enter a dollar amount

Cost of goods sold

$ Enter a dollar amount

$ Enter a dollar amount

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Your answer is incorrect.

For both FIFO and LIFO, calculate the sum of ending inventory and cost of goods sold.

FIFO

LIFO

The sum of ending inventory and cost of goods sold

$ Enter a dollar amount

$ Enter a dollar amount

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