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Sheffield Corp. sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Sheffield Corp.'s purchases of WhiteOut snowboards
Sheffield Corp. sells a snowboard, WhiteOut, that is popular with snowboard enthusiasts. Presented below is information relating to Sheffield Corp.'s purchases of WhiteOut snowboards during September. During the same month, 97 WhiteOut snowboards were sold at $170 each. Sheffield Corp. uses a periodic inventory system. Date Explanation Units Unit Cost Total Cost Sept. 1 Inventory 20 $100 $2,000 Sept. 12 Purchases 36 106 3.816 Sept. 19 Purchases 19 110 2,090 Sept. 26 Purchases 40 112 4,480 Totals 115 $12,386 (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods. The ending inventory $ Cost of goods sold $ Save for Later FIFO $ $ LIFO Attempts: 0 of 1 used Submit Answer
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