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Sheffield Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sheffield Corp.s purchases of EZslide snowboards during September.

Sheffield Corp. sells a snowboard, EZslide, that is popular with snowboard enthusiasts. Below is information relating to Sheffield Corp.s purchases of EZslide snowboards during September. During the same month, 101 EZslide snowboards were sold.

Date

Explanation

Units

Unit Cost

Total Cost

Sept. 1

Inventory

10

$100

$1000

Sept. 12

Purchases

47

103

4841

Sept. 19

Purchases

49

104

5096

Sept. 26

Purchases

25

105

2625

Totals

131

$13562

Additional data regarding the companys sales of EZslide snowboards are provided below. Assume that Sheffield Corp. uses a perpetual inventory system.

Date

Units

Sept. 5

Sale

7

Sept. 16

Sale

49

Sept. 29

Sale

45

Totals

101

Calculate the average unit cost. (Round answers to 3 decimal places, e.g. 5.125.)

September 1

$

September 5

$

September 12

$

September 16

$

September 19

$

September 26

$

September 29

$

Compute ending inventory at September 30 using FIFO, LIFO, and moving-average. (Round answers to 0 decimal places, e.g. 125.)

FIFO

LIFO

AVERAGE-COST

The ending inventory

$ $ $

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